German investment fund DIFA has completed the sale of the Nautilis portfolio of German office properties to Tishman Speyer Properties and IVG for EUR 860.5 mln. Tishman Speyer is paying about EUR 670 mln for ten properties belonging to the DIFA-Fonds Nr. 1, while four properties, owned by DIFA-GRUND, were sold last week to IVG Immobilien for approximately EUR 190 mln. The office properties are located in Berlin, Düsseldorf, Hamburg, Frankfurt, Stuttgart and Munich. They include the Westend Carrée and Aculeum buildings in Frankfurt. Jones Lang LaSalle advised DIFA on the deal.
German investment fund DIFA has completed the sale of the Nautilis portfolio of German office properties to Tishman Speyer Properties and IVG for EUR 860.5 mln. Tishman Speyer is paying about EUR 670 mln for ten properties belonging to the DIFA-Fonds Nr. 1, while four properties, owned by DIFA-GRUND, were sold last week to IVG Immobilien for approximately EUR 190 mln. The office properties are located in Berlin, Düsseldorf, Hamburg, Frankfurt, Stuttgart and Munich. They include the Westend Carrée and Aculeum buildings in Frankfurt. Jones Lang LaSalle advised DIFA on the deal.
'This sale in favourable market conditions enables us to optimise our portfolio structures, which were overweight in the office sector - particularly in the Rhein-Main area,' said DIFA Management Board member Dr. Frank Billand. 'But even after this transaction, Germany remains our most important investment location, with more then 120 properties across all DIFA funds worth a total of around EUR 5 bn.' DIFA said its strategy is to gradually expand the DIFA-Fonds Nr. 1 portfolio through carefully targeted investment in Germany and other European countries. The properties held at the moment comprise German commercial properties and high-yield office buildings in Paris, London and Brussels, as well as shopping centres and hotels.
