Deka sells Paris office asset to Gecina for €430m

Deka-ImmobilienEuropa has sold its Paris office complex in the 8th arrondissement to French listed real estate company Gecina for around €430 mln, exceeding its market value and original purchase price. 

Deka office building in Paris

Originally three separate buildings constructed in 1911, 1935, and 1964, the complex was renovated in 2013 into a modern office space totalling 32,000 m2.

 Now comprised of two sections, Rocher (25,000 m2) and Vienne (7,200 m2), the property also offers 197 car and 77 motorcycle parking spaces. Vienne is fully occupied by four tenants, while Rocher has been empty since April 2025.

The centrally located property, a short walk from Saint-Lazare train station, holds both LEED Gold and BREEAM "Very Good" certifications.

After 14 years of ownership, Deka Immobilien is capitalizing on favourable market conditions, securing a profit and freeing up capital for new investments while avoiding future renovation costs.

Gecina plans to reposition Rocher as a fully-amenitized business centre, synergizing with its adjacent 7 Madrid property, through a €30-40 mln refurbishment. This acquisition, funded by recent asset sales, is expected to be accretive to net income and maintain a stable loan-to-value ratio, reinforcing Gecina's presence in Paris’s CBD.