DeA Capital’s French real estate business has bought an 11,000sqm Paris office building in partnership with an unnamed US investor.
The building, which was sold by Aviva Investors, is located in Saint-Denis and is currently two-third let by multiple tenants.
DeA Capital Real Estate France said it will manage the asset.
Emanuele Dubini, DeA Capital Real Estate France CEO, said: “We are delighted to continue our development in France despite a challenging market context, and thus establish our company as a one of the leading player in this market.
Pierre Julin, DeA Capital Real Estate France investment director, said: “The current context places a greater need for services, comfort and flexibility for users and we will work on this asset to improve comfort of existing and future tenants.”
Adrien Beuriot, real estate asset management director for Aviva Investors, said: “We are pleased to have been able to conclude this sale in the context we know.
“This transaction demonstrates the ability of Aviva Investors Real Estate France’s teams to seize market opportunities and turn their assets under management to the benefit of their clients.”
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