Deka Immobilien seeds new special fund, Domus Megatrends Europa

BNP Real Estate Investment Managers divested the property in the Irish capital, while British investment company Blue Coast Capital sold the office building in Madrid.

The Dublin property, at 8 Hanover Quay, was built in 1920 and renovated to new-build quality in 2016. The leasable space of around 3,750 m2 is leased long-term to Airbnb Ireland. The property is located at Grand Canal Dock in Dublin's South Docks sub-segment.

This area, which boasts good transport links, has developed over recent years into the city's most popular office rental district. The property has been rated "Very Good" by BREEAM, the British certification for sustainable construction. In February 2020, Deka Immobilien had already purchased the neighbouring property, known as The Reflector, for the open-ended real estate fund Deka-ImmobilienMetropolen.

The Ancora 40 office building in Madrid, built in 1990, was core renovated in 2021 and is characterised by high space efficiency. It comprises more than 7,000 m2 of leasable space and 57 parking spaces. The four interconnected building sections are fully leased to Just Eat Takeaway, Europe's largest online provider of food delivery services.

Ancora 40 is located in the established Méndez Álvaro sub-segment. It has received Leadership in Energy and Environmental Design (LEED) Gold certification. This investment marks the first Deka property acquisition in Spain for years.

The Domus Megatrends Europa fund focuses on 50 top European real estate locations in line with the megatrends of new work, environment and urbanisation. The main target is on high-value, sustainable core/core+ properties in the office, retail, logistics and hotel segments, in line with Article 8 of the Sustainable Finance Disclosure Regulation.

Deka said that further purchases were already at an advanced stage of negotiations.