Deka Immobilien invests in Luxembourg office sector

Deka Immobilien has invested in the Luxembourg office sector.

KanAm’s open-ended grundinvest fund, being liquidated in a process begun four years ago, sold the Atrium Business Park for an undisclosed price to Deka.

The 54,000sqm park, divided into four separate blocks known as Emporium, Excio, Extimus and Virtum, was worth a total €264.2m, according to the German fund manager’s annual report from June 2015.

The park, completed between 2005 and 2011, is in Bertrange close to the Belgian border.

KanAm said it has now sold €5bn in assets as part of the fund’s liquidation.

The fund is approaching the 90% mark in its sales process.

In September, KanAm’s grundinvest fund sold Parisian office tower Tour Europe to an unnamed US investor for an undisclosed price.

The asset was valued at €156m in the grundinvest fund’s 2015 annual report.