German open-ended fund manager Deka Immobilien has acquired an office asset in Bordeaux from a joint venture between French developers Groupe Soline and Groupe Deret. The purchase price was not disclosed.
German open-ended fund manager Deka Immobilien has acquired an office asset in Bordeaux from a joint venture between French developers Groupe Soline and Groupe Deret. The purchase price was not disclosed.
The 11,400 m2 office asset was completed earlier this year and is located on the right bank of the river Garonne in the Coeur de Bastide district. The three-storey building is 90%-leased to six tenants and is aiming for HQE sustainability certification.
The asset is the second to be bought by Deka in Bordeaux in two years. In 2010 it acquired a retail property in the southwestern French city.
DekaBank Group is the largest provider of open-ended property funds in Germany. The two capital investment companies, Deka Immobilien Investment and WestInvest Gesellschaft für Investmentfonds, together managed over EUR 23 bn of assets at end-May 2012.
