"Most appealing is the location and the upward potential of thearea in combination with the quality of the properties," LeoWeidenaar, manager of ING's European Office Fund, tellsGlobeSt.com. The office buildings were acquired from a privateinstitutional investor in France and the logistics center wasbought from a joint venture of Gazeley and CalEast GlobalLogistics.

The fund paid EUR 70 million [$109.7 million] for the officebuildings, each about seven years old. In Bordeaux's city center,the fund acquired Le Millenium I, totaling 6,873 m2 [73,980 sf],which is occupied by six tenants. In the Forum Seine area ofIssy-les-Moulineaux, the fund picked up the L'Open Building, with86,412 sf in eight stories, and a six-level underground parkinggarage at 21 rue Camille Desmoulins. London-based CMPMedicaoccupies 75% of the building; the balance is leased to Jersey City,NJ-based OXya and American Power Conversion Corp., headquartered inWest Kingston, RI.

For EUR 17 million [$26.6 million], the fund got a class Alogistics center with 23,819 m2 [256,385 sf] and extra developmentland in Canly, Oise, 60 km north of Paris. Recall France SAoccupies the entire building, which has 994 m2 [10,699 sf], 759 m2[8,169 sf] of technical space and the balance in warehouse area.The site can park five heavy-goods vehicles and 85 cars. The assetwas acquired for the ING Real Estate Industrial Fund Europe.