German fund manager Deka Immobiliën has bought Vienna’s Gate 2 office block for €105 mln.

German fund manager Deka Immobiliën has bought Vienna’s Gate 2 office block for €105 mln.

Deka bought the unfinished building for its West ImmoValue fund aimed at institutional investors.

Completion is planned for January 2015, when the six- and nine-story buildings will be let long-term to the City of Vienna.

The vendor is a subsidiary of Austrian developer BAI.