Harbert buys French business park for €39m

Alabama-based Harbert Management acquires Lyon Business Park from Goodman’s European Business Park Fund.

Harbert Management, the US alternative asset manager, has acquired Parc Mail business park, in Lyon, France, from Goodman’s European Business Parks Fund for €39 million.

The acquisition has been made by affiliates of Harbert European Real Estate Fund II, and parallel fund, Harbert European Real Estate Fund II.

Parc Mail consists of approximately 22,000 square metres of office space built between 2002 and 2008. The property is 99 percent occupied by 23 tenants, including Cap Gemini, Linde, Microsoft and Total Petrochemicals. 

In a statement, Scott O’Donnell, senior managing director of Europe, called Parc Mail “one of the highest quality business locations outside of central Lyon.”

Stephen Young, a fund director at Australia’s Goodman said the vehicle was in a capital recycling programme.

Alabama-based Harbert Management is an alternative asset investment management firm that manages twelve different investment strategies. The European real estate team has offices in London, Luxembourg, Amsterdam, Paris and Madrid.