Deka picks up Paris mixed-use property for €33m

Deka Immobilien has invested €33 mln to acquire a mixed-use property at 21 Avenue de l'Opéra in Paris from a private owner.

21 Opera, Paris

This 19th-century Haussmann-style building, offering nearly 2,500 m2 of office, retail, and residential space, will be integrated into the Deka-ImmobilienEuropa fund.
This acquisition is particularly strategic as Deka Immobilien already owns the neighbouring complex at 23 Avenue de l'Opéra and 29 Pyramides, which surrounds the newly acquired property. 
The combined properties now encompass the retail space leased to French retailer Monoprix, a long-standing tenant at this prime location between the Paris Opera and the Louvre. 
This consolidation creates asset management synergies and allows for greater flexibility in responding to future market demands and tenant needs by connecting the two properties.