Deka Immobilien has acquired “23 Opéra”, the office and commercial property in the heart of the central business district(CBD) of Paris from French real estate investment company OREIMA.
The commercial property in Paris will be incorporated into the open-ended real estate mutual fund Deka-ImmobilienEuropa. Silence has been agreed on the purchase price.
The mixed-use property is characterized by its downtown location on the axis between the world-famous Opéra Garnier and the Louvre. The object of purchase comprises several typical Haussmann-style parts of the building with a lettable area of around 9,900 m².
The main tenant of the retail space is the French department store Monoprix, which looks back on an 80-year history with its branch office. In the course of the recently completed refurbishment of the office space on the upper floors, modern office space was created that meets the requirements of renowned tenants. The property is certified with the British sustainable building certification BREEAM “In Use”.
With the purchase, the fund management of Deka-ImmobilienEuropa adds a core property with high variability and long-term secured rental income to its France portfolio.