Deka Immobilien has announced a second large investment this week with the acquisition of an office and retail property in Munich.

Deka Immobilien has announced a second large investment this week with the acquisition of an office and retail property in Munich.

The Battello building in the Munich-Arnulfpark district was bought from LaSalle's German Income & Growth Fund for €70 mln.

The deal follows the €176 mln sale-and-leaseback purchase days earlier of the Helsinki headquarters of Dutch/Finnish media firm Sanoma.

The Finnish transaction was on behalf of the open-ended fund Deka-Immobilien Global. The property in Munich was acquired for the open-ended WestInvest InterSelect fund.

Battello was completed in 2008 and comprises 15,000 m2 of office space and 2,200 m2 each for retail, catering and events, as well as storage areas. The main tenant is internet portal Check 24.

Deka was advised by JebensMensching on the transaction, while CBRE and Taylor Wessing acted for the vendor.