DB Real Estate acquires two office blocks in Paris for EUR 250 mln

DB Real Estate acquired on behalf of its open-ended real estate funds grundbesitz-invest and grundbesitz-global two office buildings in Paris from the French real estate company Bouygues Immobilier.

The staff of the French daily newspaper ´Le Monde´ will move in one of the buildings in 2004, located in the traditional 13th district in the south-east of the city and which has been substantially renovated. This building was acquired on behalf of grundbesitz-global, which now has a portfolio total of EUR 1.8 mbln.

The other building, located on the Seine embankments in the neighbourhood of the National Library in the famous Parisien office district ´Paris Rive Gauche´. This building was acquired on behalf of grundbesitz-invest, which total funds now amount to approximately EUR 8.0 bln.

It is expected that DB Real Estate will continue to acquire high-quality commercial real estate in Europe and the U.S. CEO Welter announced that more than EUR 2.2 bln will be invested during 2002.

(source: DB Real Estate)

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