German fund manager Deka Immobilien has acquired the Parkboulevard specialist retail centre in Rotterdam for its WestInvest TargetSelect Shopping special property fund. The vendor is VOF Vierhafens, a joint venture of Dutch property developers MAB and DuraVermeer. The parties agreed not to disclose the purchase price.
German fund manager Deka Immobilien has acquired the Parkboulevard specialist retail centre in Rotterdam for its WestInvest TargetSelect Shopping special property fund. The vendor is VOF Vierhafens, a joint venture of Dutch property developers MAB and DuraVermeer. The parties agreed not to disclose the purchase price.
Cushman & Wakefield acted for Deka in the transaction.
Completed in 2011, the centre has a total lettable floor space of some 25,000 m2 and is leased mainly to Dutch interior design chain Woonenexpress.
The DekaBank Group is the largest provider of open-ended property funds in Germany. Its two capital investment companies, Deka Immobilien Investment and WestInvest Gesellschaft für Investmentfonds, together manage fund assets of over EUR 22 bn (as at 31 October 2011).
