Deka Immobilien has acquired Le Patio office building in Marseilles for around EUR 26 mln. The property is almost fully let and has a total lettable area of around 8,900 m2.

The main tenants are French state health insurance agency Caisse Primaire Centrale d'Assurance-Maladie (CPCAM) and a subsidiary of state utility company Electricité de France (EDF). 'With this first investment in Marseilles, our institutional funds are expanding their portfolios in regional locations in France,' commented Torsten Knapmeyer, managing director of Deka Immobilien and WestInvest.

The office property was built in 2008 and is located in the Prado sub-market of Marseilles, in the city's historic central business district. The property will form part of the portfolio of Deka S-PropertyFund No. 2, an individual fund that is not subject to the German Investment Act. The vendor is Irish wealth management firm Custom House Capital. The advisers on the purchaser side included Freshfields Bruckhaus Deringer, Ingerop and Jusot et Assoc.