Realkapital Partners has acquired an office building in Paris and a logistics scheme in Algers for its recently launched Realkapital European Opportunity II fund. The total acquisition price comes to EUR 80 mln. The company has bought six storeys within a 18-floor office building in the 12th arrondissement of Paris from GE Real Estate for some EUR 40 mln. The space - representing a 33% of the Tour Lyon Bercy - provides 4,710 m[sup]2[/sup] let to France Telecom and 90 underground parking spaces.The acquisition is part of a strategic partnership between DTZ Asset Management and Realkapital Partners in continental Europe.

Realkapital Partners has acquired an office building in Paris and a logistics scheme in Algers for its recently launched Realkapital European Opportunity II fund. The total acquisition price comes to EUR 80 mln. The company has bought six storeys within a 18-floor office building in the 12th arrondissement of Paris from GE Real Estate for some EUR 40 mln. The space - representing a 33% of the Tour Lyon Bercy - provides 4,710 m2 let to France Telecom and 90 underground parking spaces.The acquisition is part of a strategic partnership between DTZ Asset Management and Realkapital Partners in continental Europe.

Realkapital Partners and DTZ Asset Management were advised by Atisreal while the vendor was advised by Jones Lang LaSalle. The deal was financed by Société générale-CIG.

Additionally, Realkapital Partners has purchased from Hertel Investissement the Les Portes de l’Anjou logistics development in Durtal near Angers. The complex, which consists of three buildings, will provide some 87,000 m2 of space. The recently-launched first phase has a lettable area of 24,400 m² and will be delivered in June 2009. The investment amount comes to EUR 40.2 mln. DTZ acted for Hertel Investissement. Crédit foncier de France financed the deal.

Patrice Genre, managing director and co-founder of DTZ Asset Management, said: 'We are pleased to announce the completion of this investment for Realkapital’s second fund while the first fund has only just been fully invested. DTZ Asset Management’s model, which is based on independence and reserved for third parties only, proves its relevancy in this time when the market is moving back to the fundamentals of real estate. Fund managers need to focus on the relationships with their equity investors while Asset managers can help by supplying dedicated and personalized on the ground services ranging from sourcing of opportunities to their disposal with asset management and financial administration.'