Press releases
Deka Immobilien buys in France
Retail property in Bordeaux acquired for EUR 68 million
Deka Immobilien GmbH has acquired a retail property in Bordeaux's Rue Sainte-Catherine for EUR 68 million. The building is fully let on the basis of long-term lease agreements and has been added to the portfolio of the WestInvest InterSelect open-ended property fund. The property was sold by Corio France, a subsidiary of the international property company Corio (with registered office in the Netherlands). The building has four floors and is situated in a high-profile location on Bordeauxs main shopping street. When the building was comprehensively refurbished in 2003, its historical facade was preserved. H&M, the main tenant, and a further three tenants, FNAC, SEPHORA and GO Sport, use a total floor space of around 16,700 sqm.
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 EUR 20 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 (AMI) business division.