German investor Deka Immobilien said on Thursday that it has acquired the Cambridge retail park in the university city of Cambridge, UK, for about EUR 114 mln. The purchase adds another retail building to the portfolio of the company's open-ended fund Deka ImmobilienEuropa. The property was sold by a 72/25 joint venture of Henderson and Morley.
German investor Deka Immobilien said on Thursday that it has acquired the Cambridge retail park in the university city of Cambridge, UK, for about EUR 114 mln. The purchase adds another retail building to the portfolio of the company's open-ended fund Deka ImmobilienEuropa. The property was sold by a 72/25 joint venture of Henderson and Morley.
The retail park was built in three construction phases during the period 2000 - 2006, and has a rental area of around 20,000 m2 that is rented to 14 companies. The main tenants include Homebase building supplies market, Curry's electronics market, Boots drug store, and Sports World. The retail park, with a catchment area of around 300,000 people, is fully rented under long-term lease agreements.
