Deka Immobilien acquires Rosenquartier in Hannover

German fund manager Deka Immobilien Investment has acquired the Rosenquartier complex in the centre of Hannover for more than EUR 46 mln. Deka carried out the transaction on behalf of its Deka-S-PropertyFund No. 1.

The recently delivered property is a redevelopment of a former telephone office complex, which features classic 1950s architecture. The redevelopment was undertaken by Euroland Projektierungen and Wölbern Projektentwicklungs.

Rosenquartier is divided into four units and comprises 5,210 m² of office space, 2,500 m² of retail space, a 148-room InterCity hotel and a multi-storey car park with 340 parking places. The property is leased on long-term contracts, with InterCityHotels as the main tenant.