PARIS – April 24, 2020 – (Newswire.com)
Global Gate Capital and DeA Capital have recently completed the acquisition of an office building located in Suresnes from a French institutional investor.
The office building, delivered in 1990, has a usable floor area of approximately 7,500 sqm over eight floors. Benefiting from a strategic location next to La Défense, the asset is well-connected to public transportation (tramway and regional trains). It is currently 92% let to high-quality tenants on long term leases. The investor group plans to institute a value-add strategy to fill vacancy and improve the building in the coming years.
DeA Capital Real Estate France will act as the local operating partner and will be supported by Humakey as Property Manager.
Rudy Sayegh, CEO of Global Gate Capital, said: “We are delighted to complete this transaction, which represents our third real estate acquisition in France over the past 18 months. We are long-term, value-driven investors with the ability to act quickly, which should serve us well in the current economic climate. We are actively focused on finding the right opportunities to grow our French portfolio in the months and years to come.”
Emanuele Dubini, Chairman of DeA Capital Real Estate France, said: “We are very happy with this transaction, executed in an unprecedented context. Suresnes is a dynamic market with strong fundamentals and benefiting from a very good position within the Western Crescent of Paris. We will pursue the value-creation strategy initiated by the seller, together with the existing tenants and our partners in this transaction.”
In this transaction, the investors were advised by SBKG & Associés, SL & Associés, Lasaygues and Theop on the technical aspects. The financing was provided by Société Générale, advised by Allez & Associés.
Global Gate Capital is an investment firm that manages multiple asset classes through its group of companies and specializes in real estate, private equity, credit, and wealth management. GGC has been investing in real estate since its inception and has deployed significant AUM in the asset class. It has a team of senior real estate professionals focused on sourcing properties and subsequently adding value. With offices in Geneva, London, New York, Dusseldorf, and Dubai, Global Gate has grown its assets under management to over $4.0B since its founding in 2013.
DeA Capital is a pan-European alternative asset manager with total assets under management of €22.6B (of which €10.3B in real estate and €12.3B in private equity & NPLs) and is also established in France, Spain, Portugal and Poland. It is the largest manager of real estate funds in Italy, with a high-quality portfolio focused on large Italian cities. DeA Capital Real Estate is backed by a diversified investor base of approximately one hundred institutional investors and employs a team of highly qualified professionals, experienced in the areas of investment, asset management and leasing, development, debt and equity structuring and fund management.
CONTACT:
Florent Jeanneau
Vice President
Global Gate Capital
florent.jeanneau@globalgatecapital.com
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Newswire.com
Original Source:
Global Gate Capital and DeA Capital Acquire a 7,500 Sqm Office Building in Suresnes
