Global real estate investment manager RREEF has bought the 'Docksite' office property in Lyon, France for EUR 46.5 mln. The transaction was conducted by RREEF on behalf of one of its German special funds (Spezialfonds).

The 14,400 m2 property was completed in 2008 and is located on 47-51 Docks Street in the business district of Lyon Vaise.

Georg Allendorf, head of Germany, Austria and Switzerland at RREEF said, 'The asset’s location, lot size and rental income makes it an ideal acquisition for our German core fund clients. Our clients have a strong appetite for well-located assets in France and other major cities in Europe, and we continue to identify compelling investment opportunities on their behalf'.

RREEF was advised by Etude Allez et Associés and Freshfields.

RREEF is the real estate investment management business of Deutsche Bank's asset management division. At end-March 2011, RREEF had EUR 41.8 bn in assets under management worldwide.