DTZ Asset Management has acquired the Crystal Défense office complex in Nanterre, France from Germany's IVG Immobilien for an undisclosed amount. The purchase was made on behalf of an unnamed French institutional investor.

Delivered in 2003, the scheme offers roughly 15,000 m2 of space in the new Seine Arche district of Nanterre. It is entirely leased to HSBC through the end of 2018.

BNP Paribas Real Estate acted for the vendor.

The deal is the latest in a spate of sales by IVG Immobilien in France. Earlier this year, the company sold the the 5,500-m2 Campus Verrazzano office building in Lyon, France to the French investment house Sofidy, as well as two high-street retail assets in Paris to the French investment manager Ciloger for nearly EUR 29 mln.

In February, IVG Immobilien divested the Quai 50 office building to the French real estate investment manager Amundi Immobilier.