German open-ended fund manager Deka Immobilien has sold an office property in Dortmund to investment company Aachener Grundvermögen Kapitalanlagegesellschaft. Financial details were not disclosed.
German open-ended fund manager Deka Immobilien has sold an office property in Dortmund to investment company Aachener Grundvermögen Kapitalanlagegesellschaft. Financial details were not disclosed.
The five-storey building has a leasable area of around 3,700 m2 was acquired by Deka in 2004 for a special fund (Spezialfonds) aimed at institutional investors. Tenants include retail chains Benetton and Forever 18.
DekaBank Group is the largest provider of open-ended property funds in Germany. The two capital investment companies, Deka Immobilien Investment and WestInvest Gesellschaft für Investmentfonds, together managed over EUR 23 bn of assets at end-May 2012.
