German fund manager Deka Immobilien has acquired the Rheinwerk II complex in the Bonner Bogen office location in Bonn.
German fund manager Deka Immobilien has acquired the Rheinwerk II complex in the Bonner Bogen office location in Bonn.
The vendor was German asset manager KGAL and the purchase price was not disclosed.
Rheinwerk II was delivered in 2008 and consists of four buildings which are connected by a common basement. The total lettable area is 16,300 m2. It is situated in Bonner Bogen, a relatively new office location next to the Rhine river in the former German capital Bonn.
Deka said the fully leased property will become the first asset to be added to Domus-Deutschland, a new fund targeted exclusively at institutional investors. The fund is seeking to acquire assets valued between €20-70 mln in A and B cities in Germany. The property allocation is 60% office space, with the remainder consisting of commercial, hotel and logistics.
