Deka Immobilien has acquired the 'Le Triangle Part-Dieu' office building in the French city of Lyon for Deka-SPropertyFund No. 1. The German investor purchased the property for around EUR 40 mln from ING Real Estate Investment Management France. The initial net yield is around 7%.
Deka Immobilien has acquired the 'Le Triangle Part-Dieu' office building in the French city of Lyon for Deka-SPropertyFund No. 1. The German investor purchased the property for around EUR 40 mln from ING Real Estate Investment Management France. The initial net yield is around 7%.
The class A property was built in 2007 and is situated in Part-Dieu, the Central Business District of Lyon. It is located in the vicinity of the TGV train station.
The property comprises floor space of around 11,400 m2 and approximately 250 underground parking spaces. It is fully let on a long-term basis to six primarily governmental tenants with high credit ratings.
The DekaBank Group is the largest provider of open-ended property funds in Germany. The two investment companies, Deka Immobilien Investment and WestInvest, together manage fund assets of over EUR 19 bn. As a sister company, Deka Immobilien is responsible for the acquisition and disposal of properties, management of these assets and all other property services as well as for product development.