A joint venture between AnaCap Financial Partners and Freo Group has bought a retail property located in Paris from the portfolio of Deka’s real estate special fund VA-Domus. The parties have agreed not to disclose the sale price.
Deka bought the asset in late 2016 from Merlin Properties for €58.5 mln.
The "Grande Armée" building complex at 10 Avenue de la Grande Armée, built in 1930 and refurbished in 2000, is located in the immediate vicinity of the Arc de Triomphe. It is a co-ownership that has around 16,050 m2 of rental space, divided into retail, residential and office. The transacted asset contained only the retail space, which spans 8,550 m2 and was most recently occupied by the tenant Conforama.
The buyers plans to refurbish the property to be able to accommodate multiple tenants.
