German fund manager Deka Immobilien has divested a 16,400 m2 logistics property in Hallbergmoos, in the Bavaria region of Germany.
German fund manager Deka Immobilien has divested a 16,400 m2 logistics property in Hallbergmoos, in the Bavaria region of Germany.
The Lindberghstraße 2 property was part of Deka WestInvest InterSelect's portfolio. The buyer was an unnamed private investor.
Financial details were not disclosed. However, the asset had an estimated market value of around €13 mln.
Completed in 1996, the property offers warehouse, production and office space totaling about 16,400 m2. It is fully leased to automotive group BMW.
'With this sale WestInvest InterSelect realizes a capital gain for its investors and continues the rejuvenation and refocusing of the fund's portfolio on properties in prime locations of European cities,' Deka said in a statement.
Deka Immobilien was advised by Realogis.
