Debt fund Deka Realkredit Klassik has acquired a senior €15 mln tranche of a commercial real estate loan in Italy.

Debt fund Deka Realkredit Klassik has acquired a senior €15 mln tranche of a commercial real estate loan in Italy.

The tranche is part of the total financing of €300 mln provided by Deka Bank for a Italian real estate portfolio.

The portfolio includes three office buildings in the city centre of Milan and nine administrative and technical buildings in Rome, Milan and other major cities in northern Italy. Most of the buildings have been recently refurbished.

Deka Realkredit Klassik was launched in 2009 as the first debt fund incorporated under German investment law. The investment fund exclusively buys senior debt relating to existing commercial property had assets of €530 mln at end-September this year.