DeA Capital Real Estate France, the French arm of the pan-European alternative asset manager, has acquired an office in Paris in joint venture with a US investor.
The property, purchased from Aviva Investors, is located in Saint-Denis. Delivered in 1999, the building has a lettable area of approximately 11,000 m2.
Located near Le Stade de France, the asset is currently over 60% let to multiple tenants. DeA Capital Real Estate France will manage the asset going forward.
Emanuele Dubini, 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.'
'The current context places a greater need for services, comfort and flexibility for users and we will work on this asset to improve the comfort of existing and future tenants,' added Pierre Julin, the firm's investment director.
Adrien Beuriot, real estate asset management director for Aviva Investors, said: '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.'
DeA Capital was advised by Allen & Overy, Bryan Cave Paisner Leighton, R&D Notaires and Theop on technical matters. The seller was advised by Screeb Notaires.
