• Deka pays Eu114m for Paris Renaissance

German open-ended fund Deka Immobilien has bought the Renaissance Arc de Triomphe, located close to the Champs-Elysees in Paris, for Eu114m.

French property group Altarea Cogedim is the vendor on a sale and leaseback basis. Marriott retains the management contract for the 118 room hotel.

Press release here: http://www.europe-re.com/system/main.php?pageid=2616&articleid=16445

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