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Deka Immobilien sells in London, buys in Paris

Shortly after the £265 million sale of Atlantic House (pictured below) in London was announced last week, Deka Immobilien has paid close to €144 million for a Paris office building which it has acquired from Société Foncière Lyonnaise.

The property, 9 Percier, is located in the middle of the Paris central business district, in the 8th arrondissement, and was bought on behalf of open-ended fund WestInvest InterSelect.

Originally built in 1929, the 6,300 sq m asset has an art deco façade but was extensively renovated between 2016 and 2019, receiving a BREEAM Very Good certification.

The space is leased to eight tenants, although Swiss insurance group Helvetia is the main tenant.

Atlantic house, 45-51 Holborn Viaduct, which was part of the Deka-ImmobilienGlobal open end fund portfolio was sold to CBRE Global Investors for £265 million.

Built in 2001 the 24,000 sq m, 12-storey building is let to law firm Hogan Lovells International until the end of 2026. The asset located on an island site on the north side of Holborn Viaduct in the western district of the City of London.

Deka had acquired the long leasehold interest of the building in 2004 and the freehold in 2009.

CBRE Global Investors were advised by TT&G and Linklaters. Deka were jointly advised by Savills and Simmons & Simmons.