Deka Immobilien has acquired the Tesco Distribution Centre in the Prague metropolitan area in the Czech Republic. The logistics property is part of the portfolio held by the open-ended property fund Deka-ImmobilienEuropa. The vendor is Tesco Group, the world's third largest grocery retailer. The purchase has been implemented as part of a sale-and-leaseback agreement. Cushman & Wakefield acted on behalf of Tesco Group.

Deka Immobilien has acquired the Tesco Distribution Centre in the Prague metropolitan area in the Czech Republic. The logistics property is part of the portfolio held by the open-ended property fund Deka-ImmobilienEuropa. The vendor is Tesco Group, the world's third largest grocery retailer. The purchase has been implemented as part of a sale-and-leaseback agreement. Cushman & Wakefield acted on behalf of Tesco Group.

The floor area of around 60,100 m2 is fully let on a long-term basis to Tesco Stores, a subsidiary of Tesco Group. The property is situated in an established logistics location with good transport links only 14km outside Prague. This is the second purchase of a Tesco logistics facility for Deka-ImmobilienEuropa in 2009.
In summer, the fund invested some EUR 34 million in a property in the Warsaw metropolitan area, Poland.

The DekaBank Group is the largest provider of open-ended property funds in Germany. The two investment companies, Deka Immobilien Investment and WestInvest Gesellschaft für Investmentfonds, together manage fund assets of over EUR 20 bn. As a sister company, Deka Immobilien is responsible for the acquisition and disposal of properties, management of these assets and all other property services as well as for product development.Together with the Real Estate Lending Unit of DekaBank, the three companies form the group’s Asset Management Property (AMI) business division.