Two days after spending €566 mln on the acquisition of online travel giant Booking’s new corporate headquarters in Amsterdam, German investor Deka Immobilien has acquired the almost fully let H2O office building located on Moosacher Straße in the north of Munich from BNP Paribas REIM’s Next Estate Income Fund II (NEIF II) pan-European investment fund.

asset

Asset

The core office building was acquired for a price reported to be just less than €150 mln. The asset was built in 2016 and features over 18,569 m2 of office space and more than 200 parking spaces.

The main tenants of the property are companies specialised in e-commerce, cars and charging solutions for electric cars. All nine leases include a green lease clause that regulates sustainable use and maintenance of the asset and rental units.

Also this week, Deka announced the sale of an office building in Paris from the portfolio of the WestInvest InterSelect open-ended real estate fund for around €73 mln. The building has been purchased by the Eau de Paris municipal water company, which is currently based in the immediate vicinity and plans to turn the property into its new headquarters.

Le Malraux, as the building is known, is located in the Parisian sub-market of "Paris Rive Gauche", an established office location on the left bank of the Seine in the 13th arrondissement. The property was completed in 2001 and comprises a leasable space spanning more than 6800 m² and 42 parking spaces. It will remain fully leased to BCPE/Natixis Immo Exploitation SA until the end of March 2023.