Paris, October 20ᵗʰ 2020
DeA Capital Real Estate France in joint venture with a US investor has acquired an office building from an English institutional investor located in Saint-Denis. The building, delivered in 1999, has a lettable area of approximately 11,000 sqm. Benefiting from an excellent location in direct vicinity of Le Stade de France, the asset is currently two-third let by multiple tenants. DeA Capital Real Estate France will manage the asset.
Emanuele Dubini, CEO, said: «We are delighted to continue our development in France despite a challenging market context, and thus establish our company as one of the leading players in this market».
We aim to enhance the building's services to improve user comfort. « The current context places a greater need for services, comfort and flexibility for users and we will work on this asset to improve comfort of existing and future tenants. », added Pierre Julin, Investment Director.
Adrien Beuriot, Real Estate Asset Management Director for Aviva Investors, comments: “we are pleased to have been able to conclude this sale in the context we know. This transaction demonstrates the ability of Aviva Investors Real Estate France’s teams to seize market opportunities and turn their assets under management to the benefit of their clients”. In this transaction, the investors were advised by Allen & Overy, Bryan Cave Paisner Leighton, R&D Notaires and Theop for the technical part. The seller was advised by Screeb Notaires.
DeA Capital is a pan-European alternative asset manager with total assets under management of €22.5bn (of which €9.9bn in real estate and €12.6bn in private equity & NPLs) and also established in France, Spain, Portugal and Poland. It is the largest manager of real estate funds in Italy with a high-quality portfolio, focused on large Italian cities. DeA Capital Real Estate is backed by a diversified investor base of approximately hundred institutional investors and employs a team of highly qualified professionals, experienced in the areas of investment, asset management and leasing, development, debt and equity structuring and fund management.