German fund manager Real I.S. has acquired the fully let Docksite office building in the business district of Lyon-Vaise on behalf of its Real I.S. BGV VII Europa fund.
The seller is a fund of DWS. The parties have agreed to keep the purchase price confidential.
'The purchase of the office property in Lyon is ideally suited to the strategy Real I.S. pursues in France,' said Catherine Luithlen, president of Real I.S. France, a subsidiary of Real I.S. 'As German investors appreciate broad diversification in terms of location, Real I.S. France concentrates on investments in desirable core cities, alongside Paris, with a special focus on large French conurbations such as Lyon, Lille, Marseille and Bordeaux.'
The four-floor building covers a total rental area of around 14,400 m2 and also has a terrace of around 690 m2. Built in 2008, it is let to six tenants including CGI France, Banque Palatine and France Télévisions and also provides 211 parking spaces.
Real I.S. was advised by C&C Notaires, LPA-CGR Avocats and Egis Conseil Bâtiments.