German asset manager Deka Immobilien is buying the Panta Rhei office building in Düsseldorf from CEE-focused property landlord Immofinanz.
Financial details were not disclosed, but the transaction was effected at an ‘attractive market price,’ according to the vendor.
The Panta Rhei property, which is located in Düsseldorf Airport City, comprises 9,600 m2 and is fully rented. Purchase contracts have already been signed.
Welcoming the deal, Ronny Pecik, CEO of Immofinanz, said: ‘The marketing of this office building started before the corona lockdown and continued in recent months without any negative effects. We are very pleased with the results.
‘As part of our portfolio strategy, our focus for the office segment remains on continued growth through our innovative myhive brand with its outstanding design, community and flexibility. We plan to realise this growth based on selective acquisitions as well as further development projects.’
JLL Germany acted as the broker in the transaction.
