German fund manager Deka Immobilien has acquired a 26,600 m[sup]2[/sup] office complex in Bremen. The scheme consists of the 'KaffeeQuartier' and 'Rösterei' buildings and was sold by the company H. Siedentopf.
German fund manager Deka Immobilien has acquired a 26,600 m2 office complex in Bremen. The scheme consists of the 'KaffeeQuartier' and 'Rösterei' buildings and was sold by the company H. Siedentopf.
The investment volume for the transaction was not disclosed.
The office scheme is almost fully let to some 30 tenants, including the municipal authority. The buildings were acquired for the WestInvest Immovalue open-ended real estate fund, which is exclusively for institutional investors.
DekaBank Group is the largest provider of open-ended real estate funds in Germany. The banking group's two property investment companies, Deka Immobilien Investment and WestInvest together held fund assets totalling more than EUR 22 bn at end-November 2011.
