Deka divests Paris office complex for €73m

Deka divests Paris office complex for €73m

Deka Immobilien has sold the Paris office complex ‘Le Malraux’ from its open-ended real estate fund WestInvest InterSelect for €73.3 million.

Deka Immobilien managed the property for more than 14 years and have now sold it at very attractive terms to the municipal water utility ‘Eau de Paris,’ who intends to use the property that is fully leased through March 2023, but already vacant as its new headquarters after renovation.”

The company said it consistently focuses on active asset management and the optimization of its portfolios, particularly with regard to sustainability criteria. ”The plan is therefore to replace the property sold with an ESG-compliant office building in a prime location of Amsterdam and with a lease of over 15 years.”

The Paris office complex has 6,828 m2 of total leasable space, including 936 m2 of restaurant space, underground parking with parking spaces for 42 cars, 8 motorcycles and bicycles.

The property built in 2001 is located in the “Paris Rive Gauche” submarket, an established office location in demand by investors in the 13th arrondissement on the left bank of the Seine.

Le Malraux was the headquarters of the asset and investment manager and current tenant BCPE/Natixis Immo Exploitation until the beginning of 2022.