Real estate investment manager Deutsche Gesellschaft fur Immobilienfonds (DEGI) is investing some EUR 40 mln in the purchase of an office project in Saint Quentin en Yvelines, within Paris' metropolitan region of Ile-de-France. DEGI is acquiring the project, fully pre-let, for its DEGI International fund.
Real estate investment manager Deutsche Gesellschaft fur Immobilienfonds (DEGI) is investing some EUR 40 mln in the purchase of an office project in Saint Quentin en Yvelines, within Paris' metropolitan region of Ile-de-France. DEGI is acquiring the project, fully pre-let, for its DEGI International fund.
The building has been sold by the leading engineering and consultancy group Assystem through a sale and leaseback agreement. It will provide some 11,088 m2 of space over five floors above ground, plus a two-storey underground car park and a restaurant. Completion is scheduled for the third quarter of 2008.
The investment will increase the proportion of French properties in DEGI International’s portfolio to 32.5%, DEGI said in a press release issued on Thursday.
