Deka Immobilien buys office complex in greater Paris from Catalyst Capital for €155 mln (FR)

Deka Immobilien GmbH has acquired Les Ateliers du Parc for around € 155 million. This office complex in Clichy, a sub-market in greater Paris, is fully let on a long-term basis. Built in 1908, Les Ateliers du Parc was comprehensively refurbished in 2011-2013. Parts of the overall complex, which comprises four connected buildings, are listed. Catalyst European Property Fund I, a fund managed by Catalyst Capital, the European real estate investment and asset management firm, is the vendor. This asset will be included in the portfolio of Deka-ImmobilienGlobal, an open-ended mutual property fund. The total available floor space in the complex of approximately 33,000 m² for offices and catering is currently let to five different parties, including online seller Amazon France and advertising agency McCann Erickson. Les Ateliers du Parc is in a central location within the Clichy sub-market and offers good local transport links as well as easy access to the Périphérique ring road. Catalyst Capital was advised by JLL in a co-exclusive mandate with Catella, Freshfields, Etude Lasaygues and PWC Landwell.
By acquiring this building, the Deka-ImmobilienGlobal investment fund has pursued its strategy of further expanding its property portfolio in established European markets. It is the first multi-tenant property which the investment fund has acquired for its portfolio in France.
Source: Deka Immobilien