Deka Immobilien invests in office building in France

 
Frankfurt, 20.12.2024

Deka Immobilien has acquired an office property with retail space in Paris for EUR 89 million. The property was sold by AG Real Estate France, a French subsidiary of Belgian real estate group AG Real Estate. It will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienMetropolen (DIM).
 
This top-quality new building with an excellent energy rating was completed in March of this year. "My Little Nation" comprises around 7,750 sqm of leasable space with a roof terrace. The space is fully let to two users on a long-term lease. The main tenant is Citeo, an organisation that specialises in waste management and promotes the sustainable use of resources. The retail space has been secured by the discount retailer Aldi.

The property is located at Place de la Nation in the east of Paris in the 11th arrondissement. This sub-market has become an extremely vibrant and attractive office market in recent years and benefits from good infrastructure. The location is increasingly popular with young, highly skilled professionals and more and more innovative companies from the technology sector are relocating there. Among other certifications, the property has been certified with the British and French seals of approval for sustainable construction: BREEAM “Excellent” and HQE “Excellent”. In addition, “My little Nation” was awarded the Coup de Coeur in the office building category by the jury of the Salon de l‘Immobilier d‘Entreprise (SIMI) in 2024.
 
In keeping with the fund profile, this acquisition adds another high-quality property in the fast-growing metropolitan area of Paris, one of Europe's most sought-after locations, to the Deka-ImmobilienMetropolen portfolio. The transaction gives the fund management the opportunity to invest in an attractive urban environment outside the traditional Central Business District, and to increase the potential for growth in rental income over the long term. In addition, the fund has secured the property at advantageous purchase conditions.

DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Together with its subsidiaries it forms Deka Group. With total customer assets of more than EUR 411,5 billion (as at 30/09/2024) and more than 5.6 million securities accounts, DekaBank is one of the largest securities services providers and real estate asset managers in Germany. It provides private and institutional investors with access to a wide range of investment products and services. DekaBank is firmly anchored in the Sparkassen-Finanzgruppe (Savings Banks Finance Group) and tailors its product portfolio to the requirements of its owners and sales partners in the securities business.

The Deka Group's global real estate expertise is pooled in its Real Estate Division. The management companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH provide management and support for around EUR 50 billion (as at 31/12/2023) in real estate assets.