Deka Immobilien has acquired the “23 Opéra” office and commercial building in the heart of the Paris central business district. The seller was OREIMA, the French independent real estate investment manager. The property will be added to the open-ended real estate fund Deka-ImmobilienEuropa. The parties agreed not to disclose the purchase price.
The mixed-use property has an outstanding city centre location on the route between the world-famous Opéra Garnier and the Louvre. The acquisition includes a number of building sections built in typical Haussmann style that provide a leasable space of around 9,900m². The main tenant for the retail space is the French department store Monoprix, which has had a branch at this location for 80 years. The refurbishment of the office area in the upper stories that was recently concluded created modern office space suitable for the needs of top tenants. The property has received British BREEAM “In Use” certification for sustainable construction.
The acquisition allows fund management of Deka-ImmobilienEuropa to add a core property offering high versatility and secure long-term rental income to its French portfolio.
