German open-ended fund manager Deka Immobilien has bought the 'Vienne Rocher' office development in the centre of Paris for as much as EUR 330 mln. The property will be added to Deka's ImmobilienEuropa fund. The developer and vendor of the complex is French financial and real estate services company Nexity.
German open-ended fund manager Deka Immobilien has bought the 'Vienne Rocher' office development in the centre of Paris for as much as EUR 330 mln. The property will be added to Deka's ImmobilienEuropa fund. The developer and vendor of the complex is French financial and real estate services company Nexity.
The project, which is scheduled for completion by end-2013, is situated in the 8th arrondissement of Paris and will offer a total leasable area of around 31,800 m2 and a four-storey underground carpark. Around two-thirds of the HQE-certified complex has been preleased to French companies.
Deka Immobilien Investment is the biggest manager of open-ended real estate funds in Germany with total fund equity at 31 May 2011 of around EUR 22 bn.
