Deka Immobilien has bought the office building ‘Le Triangle Part-Dieu’ in Lyon for its Deka-S Property Fund No 1.

The company purchased the property for around €40m from ING Real Estate

Investment Management France at a net initial yield of around 7%.

The building comprises floor space of around 11,400 sq m and approximately 250 underground parking spaces, and is fully let long term to six primarily governmental tenants with high credit ratings.

It is situated in Part-Dieu, the central business district of the city, and is centrally located in the vicinity of the TGV train station.