Deka buys Leipzig properties from JP Morgan AM

By A staff reporter 2012-01-05T00:00:00+00:00

Germany's open-ended real estate fund manager Deka has acquired Speck’s Hof & HansaHaus in Leipzig from JP Morgan Asset Management. No financial details were disclosed.

Germany's open-ended real estate fund manager Deka has acquired Speck’s Hof & HansaHaus in Leipzig from JP Morgan Asset Management. No financial details were disclosed.

The office and retail properties with a rentable surface area of approximately 22,200 m² were bought on behalf of Immobilienspezialfonds, Deka's special fund for institutional investors. Jones Lang LaSalle and law firm Latham & Watkins advised the vendor while law firm Görg advised the buyer.

DekaBank is the leading provider of open-ended real estate funds in Germany. Its two investment companies Deka Real Estate Investment and WestInvest jointly manage assets valued at over EUR 22 bn.