Deka Immobilien buys office building in Lyon for around €40 million (DE/FR)

Deka Immobilien GmbH has acquired the office building 'Le Triangle Part-Dieu' in Lyon for Deka-SPropertyFund No. 1. The company purchased the property built in 2007 for around €40 million from ING Real Estate Investment Management France. The initial net yield is around 7%.

Lyon Le Triangle

Le Triangle Part-Dieu office building in Lyon, France.

The class-A property is situated in Part-Dieu, the Central Business District of the city, and is centrally located in the vicinity of the TGV train station. The property comprises floor space of around 11,400 m² and approximately 250 underground parking spaces. It is fully let long term to six primarily governmental tenants with high credit ratings.

The DekaBank Group is the largest provider of open-ended property funds in Germany. The two investment companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH, together manage fund assets of over €19 billion. As a sister company, Deka Immobilien GmbH is responsible for the acquisition and disposal of properties, management of these assets and all other property services as well as for product development. Together with the Real Estate Lending Unit of DekaBank, the three companies form the Group's Asset Management Property business division.

Source: DekaBank

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