Deka Immobilien buys logistics property in the Paris area
Frankfurt – 25.10.2021
Deka Immobilien has exchanged contracts to secure the purchase of a logistics property in the Paris metropolitan region. Groupe Panhard, with its headquarters in France, is the seller and developer. The property is intended to be included in the WestInvest TargetSelect Logistics sector fund, which is aimed at institutional investors. The parties agreed not to disclose the purchase price.
The development project in Nanteuil-le-Haudouin comprises around 92,500 square metres of leasable space. The seller has provided a long-term rental guarantee for the logistics property, which is expected to be completed in the third quarter of 2022. Upon completion, the property will receive the British BREEAM “Very Good” certification for sustainable construction.
The property’s sustainable design includes a generous number of charging stations for electric vehicles, a planned photovoltaic system and LED lighting. The property is being built around 20 kilometres north-east of Europe’s largest cargo airport (Paris Charles de Gaulle) and is located within the Dorsal logistics corridor in France.
This transaction will enable the fund management of WestInvest TargetSelect Logistics to secure a property in an established location to meet the high demand for large-scale, modern logistics properties in the greater Paris area.
DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Together with its subsidiaries it forms Deka Group. With total customer assets of more than EUR 378 billion (as at 30/09/2021) and more than 5 million securities accounts, DekaBank is one of the largest securities services providers and real estate asset managers in Germany. DekaBank is a wholly owned subsidiary of the German Sparkasse savings banks and forms an integral part of the Sparkassen-Finanzgruppe.
The Deka Group’s global real estate expertise is pooled in its Real Estate Division. The management companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH provide management and support for around EUR 43 billion in real estate assets (as at 31/12/2020).