Deka Immobilien has bought a logistics asset near Paris for around EUR 27 mln from a fund managed by AEW Europe. The property, located in Brie-Comte-Robert Park, will be added to Deka's open-ended WestInvest TargetSelect Logistics fund.

Deka Immobilien has bought a logistics asset near Paris for around EUR 27 mln from a fund managed by AEW Europe. The property, located in Brie-Comte-Robert Park, will be added to Deka's open-ended WestInvest TargetSelect Logistics fund.

The property consists of two separate, fully rented buildings with a combined leasable area of around 40,000 m2. Tenants include the French Post Office and Franco-German company Heppner Transport and Logistics.

Deka was advised on the deal by law firm Marccus Partners and Jones Lang LaSalle.

The WestInvest TargetSelect Logistics fund was set up in 2008 and is part of the WestInvest TargetSelect product range, which gives institutional investors the option of investing in logistics, hotels and retail properties.