German fund manager Deka Immobilien has sold the Carrea office property in the Munich area of Parkstadt Schwabing for around EUR 30 mln. The buyer is Competo Bestandsfonds Plus, a fund managed by Munich-based Competo Capital Partners.
German fund manager Deka Immobilien has sold the Carrea office property in the Munich area of Parkstadt Schwabing for around EUR 30 mln. The buyer is Competo Bestandsfonds Plus, a fund managed by Munich-based Competo Capital Partners.
Deka Immobilien acquired the building in 2003 for its Deka-ImmobilienEuropa open-ended property fund. The scheme offers around 11,200 m2 of lettable area and is leased to a number of tenants in the IT, financial and fashion industries. Colliers Schauer & Schöll advised the seller.
Also this week, Union Investment Real Estate announced the sale of the Mövenpick hotel in Stuttgart-Messe for around EUR 16 mln. The property, which was acquired by Union two years ago for its Unimmo:Europa fund, was sold to an affiliate of hotel operator Grand City Hotels & Resorts. The asset offers 11,300 m2 of space spread across 229 hotel rooms.
