German property fund company Degi has acquired an office project in Rome for its Degi International fund from Parsitalia for EUR 122 mln. The 17,600 m[sup]2[/sup] building will be the headquarters for Procter & Gamble's Italian business when it is completed by late 2008. Cushman & Wakefield advised the seller while Savills acted for Degi.
German property fund company Degi has acquired an office project in Rome for its Degi International fund from Parsitalia for EUR 122 mln. The 17,600 m2 building will be the headquarters for Procter & Gamble's Italian business when it is completed by late 2008. Cushman & Wakefield advised the seller while Savills acted for Degi.
Last week, Degi purchased an office and commercial building in the German city of Mannheim from LBBW Immobilien for the Degi German business fund for an undisclosed sum. Days earlier, 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.
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 and on www.propertyeu.info from mid December.
