German property firm Deka Immobilien has announced the sale of 10 properties in Germany to various buyers for a total transaction volume of around €220 mln.
The office properties located in Frankfurt, Bad Vilbel, Hamburg, Cologne, Bochum and Münster were owned by Deka's open-ended real estate funds, Deka-ImmobilienEuropa and WestInvest InterSelect ,as well as by three special funds.
The properties sold include the Gentle office scheme at Frankfurt's Barckhausstraße 12-16, which was refurbished last year and converted into a multi-tenant property. The 5,700 m2 asset leased to Korn Ferry International was sold to LaSalle Investment Management on behalf of an individual mandate.
In addition, Deka sold the 11,000 m2 Stada headquarters located near Frankfurt to fund manager Fairvesta.
The transactions bring the total amount of disposals by Deka in 2017 to around €400 mln.
