Deka Immobilien has acquired an office building in New York’s Midtown Manhattan for approximately EUR 95 mln. The property located at 19 West 44th Street was acquired for the Deka-ImmobilienGlobal open-ended mutual property fund. It was sold by the property company SL Green Realty Corp.
Deka Immobilien has acquired an office building in New York’s Midtown Manhattan for approximately EUR 95 mln. The property located at 19 West 44th Street was acquired for the Deka-ImmobilienGlobal open-ended mutual property fund. It was sold by the property company SL Green Realty Corp.
The T-shaped building features 27,500 m2 of lettable space across 18 floors. Currently, the almost fully let property is occupied by 60 tenants. The largest tenant is tax consultancy UHY Advisors. The office building is located on 44th Street, between 5th and 6th Avenue, also known as Club Row. Grand Central Station and Times Square are within walking distance of the property.
Last week the Business Times of Singapore reported that Deka had bought Chevron House located at Raffles Place in Singapore for SGD547 mln (EUR 305 mln). The vendor of the office property was Goldman Sachs funds. Back in 2007, Goldman Sachs funds bought the property for SGD 730 mln.
DekaBank Group is the largest provider of open-ended property funds in Germany. The two capital investment companies, Deka Immobilien Investment and Westinvest, together manage fund assets of over EUR 21 bn.
