German property fund manager Deka Immobilien has acquired the Atria office property in the Scottish capital of Edinburgh for around £105 mln (€131 mln).
Deka purchased the property for its Deka-ImmobilienEuropa open-ended real estate mutual fund. The vendor was the City of Edinburgh Council.
The office building was completed in 2013 and is located in the central business district of Edinburgh, which is the second largest financial centre in the UK, after London.
Atria consists of two buildings (Atria One and Atria Two) offering a total of approximately 18,580 m2 of leasable space and 20 parking spaces. The property is currently leased to 10 tenants. The main tenants are financial services providers Brewin Dolphin and PWC Services. The property has received British BREEAM 'Excellent' certification for sustainable construction.
Deka Immobilien had €29 bn of property assets under management across its two investment companies, Deka Immobilien Investment and Westinvest, at end-2015. The fund manager's parent company, Deka Bank, is the securities services provider for the German Savings Banks Finance Group.
