Kenmore European Industrial fund is buying a portfolio of light industrial properties in France and Belgium for a total of around EUR 29 mln. The company acquired four assets in the Paris region and Lyon from French company Proudreed for EUR 10.3 mln, or a net initial yield of 8.7 %. The French properties generate a total income of EUR 959,000 per annum and are 87% let to several tenants.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
