DeA Capital Real Estate France has teamed up with investment firm Global Gate Capital to acquire a mixed-used historic building located at 10 Allées de Tourny, in the prestigious Triangle d’Or area of Bordeaux.
The acquisition represents Dea Capital’s first foray in the French regions. Financial details were not disclosed.
The asset consisting of over 6,300 m2, was erected during the 18th century and was originally used to house the Royal Academy of Bordeaux. It is currently let to an institutional occupier and the new owners plan to reposition the building to provide grade A office spaces.
DeA Capital Real Estate France will act as the local operating partner and will be supported by Faye Architectes & Associés, Theop for the restructuring project and VSA for the Property management.
‘I am pleased to expand our French Real Estate portfolio with the acquisition of this superb building which represents our 4th French transaction over the past 2 years,’ said Rudy Sayegh, CEO of Global Gate Capital.
Emanuele Dubini, CEO of DeA Capital Real Estate France, said: ‘We are delighted by this new acquisition with Global Gate Capital. It is our first investment outside the Paris region, driven by the prime quality of the building and its strategic location in the city centre of Bordeaux. This new project allows DeA Capital Real Estate France and Global Gate Capital to diversify the risk profile and the geography of our portfolio built up together. Bordeaux is an attractive city with strong fundamentals and potential.’
The investors were advised by SBKG & Associés, Racine, Lasaygues and Theop for the technical part. The financing was provided by Société Générale, advised by Allez & Associés. The seller was advised by Thibierge Notaires and BNP Paribas Real Estate.
