The fund management of the open-ended real estate fund Deka-ImmobilienEuropa has entered into an agreement to sell a large-volume office complex in Paris’s 8th arrondissement to Gecina for approximately 430 million euros. Gecina is one of France’s leading listed real estate companies.
The complex consists of three buildings originally constructed in 1911, 1935 and 1964. Through refurbishments in 2013, the site was transformed into a modern office complex offering approximately 32,000 sqm of leasable space, along with 197 parking bays for cars and 77 bays for motorcycles. Today, the property comprises two sections, Rocher and Vienne. While Vienne is currently fully leased to four users, Rocher has been vacant since April 2025.
The property is certified to the LEED Gold standard and holds a “Very Good” rating under the British BREEAM system for sustainable construction. It is centrally located, just a short walk from Saint Lazare railway station.
Following a holding period of 14 years, the fund management is selling the property above both its market value and original purchase price. The fund is thus capitalising on strong investment market demand to generate a profit, avoid conversion risks and free up capital for attractive new investments.