German open-ended fund manager Deka Immobilien has acquired a mixed-used property in Hamburg from an investment vehicle run by Arminius Funds Management. The parties agreed not to disclose financial details.
German open-ended fund manager Deka Immobilien has acquired a mixed-used property in Hamburg from an investment vehicle run by Arminius Funds Management. The parties agreed not to disclose financial details.
The LoftKontor asset comprises around 6,200 m2 of leasable space over six storeys, of which some 5,000 m2 is devoted to offices and around 600 m2 each to retail and other uses. The property is fully leased. Tenants include Qype, a web company centred around social networking and local reviews.
DekaBank Group is the largest provider of open-ended property funds in Germany. The two capital investment companies, Deka Immobilien Investment and WestInvest Gesellschaft für Investmentfonds, together managed over EUR 23 bn of assets at end-May 2012.
