Deka Immobilien has sold a retail property located in Paris from the portfolio of the real estate special fund VA-Domus after a holding period of around six years. The buyer is a joint venture between AnaCap Financial Partners and FREO Group. The parties have agreed not to disclose the sale price.
The "Grande Armée" building complex at 10 Avenue de la Grande Armée, built in 1930 and refurbished in 2000, is located in the immediate vicinity of the Arc de Triomphe. It is a co-ownership that has around 16,050m² of rental space, divided into retail, residential and office. The transacted asset contained only the retail space, which spans 8,550m² and was most recently occupied by the tenant Conforama.
The buyer plans to refurbish the property in conjunction with a multi-tenant use.