Deka debt fund acquires financing for London office property

Deka's debt fund Realkredit Klassik has acquired a senior tranche of a commercial property loan from DekaBank for around £17 mln (€20 mln).

The loan represents a portion of overall financing totalling £33 mln, which DekaBank extended in its capacity as arranger for an office property in the City of London.

The office building was constructed in 1995 and extensively modernised in recent years. The property provides around 14,000 m2 of floor space to let.

With the acquisition of the tranche in London, Deka Realkredit Klassik has added a further loan to its portfolio, bringing it to around €400 mln. In 2013, the investment fund also acquired a senior tranche of financing for New York’s Empire State Building.

Deka Realkredit Klassik was launched in 2009 as the first debt fund under German investment law. The investment fund only buys senior debt relating to existing commercial property.