Deutsche Asset & Wealth Management (DeAWM) has sold the Oxygène building in Clichy, a north-western suburb of Paris, to Crédit Agricole Immobilier for €93 mln.
Deutsche Asset & Wealth Management (DeAWM) has sold the Oxygène building in Clichy, a north-western suburb of Paris, to Crédit Agricole Immobilier for €93 mln.
Bought in 2002 for €74 mln, the asset was held by DeAWM's grundbesitz global fund.
Oxygène was completed in 2004 and provides 19,270 m2 of office space and 283 parking spaces. It is let to a single tenant, Monoprix, through 2022.
The disposal reduces the fund's exposure to European real estate, the asset manager said, adding that it will re-invest the proceeds in markets outside of Europe.
