Deka Immobilien purchases logistics real estate in prime French location

Frankfurt, 22.02.2024

Deka Immobilien has acquired a newly constructed e-fulfilment centre in the Paris region for around EUR 160 million. Gemfi, the development arm of Gicram Group, established the building to address the needs of users and subsequently sold it to Deka. The new building will be added to the portfolio of the Deka-ImmobilienEuropa open-ended property fund.

The "Tailor" project completed in February 2024 at ZAC du Tertre de Montereau comprises 140,000 sqm of leasable space plus over 1,200 car parking spaces, over 60 HGV parking spaces and over 170 bicycle parking spaces. It is let to Zalando SE, a leading European e-Commerce destination for fashion and lifestyle. The e-commerce provider plans to supply customers in France and the neighbouring markets from this centralised logistics area with good motorway connections.

The new building is located in Europe's largest metropolitan area, "Île-de-France", on the outskirts of the most active logistics market in Paris, "Grand Paris Sud". The property is situated immediately adjacent to a Colissimo ("La Poste") distribution centre. The property is aiming for the British BREEAM seal of approval for sustainable construction with "Excellent".

With this acquisition, the management of Deka-ImmobilienEuropa is reentering the French logistics market and consolidating the logistics share of the portfolio as a whole.

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 EUR 370 billion (as at 30/09/2023) and 5.5 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.