German property fund company Degi has purchased an office and commercial building in Mannheim from LBBW Immobilien for the Degi German business fund. The financial details were not disclosed, but this is the latest in a serious of transactions that has propelled Degi into PropertyEU's rankings of top dealmakers in 2007.
German property fund company Degi has purchased an office and commercial building in Mannheim from LBBW Immobilien for the Degi German business fund. The financial details were not disclosed, but this is the latest in a serious of transactions that has propelled Degi into PropertyEU's rankings of top dealmakers in 2007.
According to data compiled by PropertyEU, Degi was the largest vendor of European commercial real estate this year and the 13th largest investor. The full ranking of the top 500 deals appears in the December edition of PropertyEU Magazine.
The Mannheim property provides 8,760 m2 of lettable area and consists of six upper floors and a twelve-storey tower in the middle. The main tenant is human resources consultant Hays. The real estate agent of the transaction was Colliers Bräutigam & Krämer.
Earlier this week, Degi announced the acquisition of the Sunshine portfolio from IVG Institutional Funds for a total investment volume of EUR 155 mln. The portfolio comprises seven properties in Berlin, Hamburg, Munich and Dusseldorf, as well as the regional centres Bonn and Nuremberg. The assets were bought on behalf of its Degi German Business and Degi Global Business funds.
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