Deka sells Düsseldorf office property for EUR 97m

Deka Immobilien said on Thursday that it has sold an office property in the centre of Düsseldorf on behalf of its open-ended real estate fund Deka ImmobilienEuropa for about EUR 97 mln. The name of the buyer was not disclosed.

Thomas Schmengler, managing director of Deka Immobilien, expressed satisfaction that the 36,000-m² office building in Düsseldorf was sold despite what he described as 'difficult market conditions'. The property at Moskauer Straße 19 has been owned by the Europa fund since 2002, and is completely let to auditors Price Waterhouse Coopers.

News of the transaction came hours after Deka announced it had acquired a hotel in Paris on behalf of ImmobilienEuropa for a total of EUR 114 mln.

Click on the link below to read: Deka Immobilien acquires Paris hotel for EUR 114m