Swiss asset manager Global Gate Capital and Italian investor DeA Capital have joined forces to acquire an office building located in the 14th district of Paris, from an undisclosed institutional investor.
Financial details were kept confidential. The financing was provided by Société Générale.
The 7,000 m2 building is located near the tube station at Porte d'Orleans, and is fully let on a long-term basis.
DeA Capital Real Estate France will act as the local operating partner and will be supported by Humakey as Property Manager.
Rudy Sayegh, CEO of Global Gate Capital, said: 'We are pleased to complete our latest investment in France and look forward to working with our partners at DeA Capital on this transaction. Going forward we will keep on growing our portfolio of European real estate assets with France becoming an increasingly important geography for us alongside Germany and the United Kingdom.'
Emanuele Dubini, CEO of DeA Capital Real Estate France, commented: 'DeA Capital Real Estate is an experienced European operating partner working with international investors to drive value creation. We have a growing international footprint with offices in France, Iberia, Italy and Poland.'