German fund manager Deka Immobilien has bought an office property in Hamburg for an undisclosed sum.
German fund manager Deka Immobilien has bought an office property in Hamburg for an undisclosed sum.
The 11,500 m2 property, known as the Astra Tower (Astraturm), was purchased from Luxembourg-based Alpina Real Estate Hamburg, an affiliate of the Conren Land Group.
Completed in 2008, the property is virtually fully leased to 16 tenants and will be added to Deka's Domus-Deutschland fund aimed at institutional investors.
The acquisition is the fund's second to date, after purchasing the Rheinwerk II property in Bonn in August. The vehicle is targeting further acquisitions with a total volume of around €700 mln.
