An affiliate of US investor Westbrook Partners has acquired an office building in Düsseldorf dubbed Fritz from Deka Immobilien.
Financial details were not disclosed.
The property was being held by Deka's open-ended mutual fund Deka-ImmobilienEuropa. It was purchased in 1993 as a new building. Fritz comprises four blocks and includes a lettable area of almost 17,000 m2, plus 300 parking spaces. It is located in the business district of Seestern.
Deka said that its fund management was taking advantage of a good market phase to sell a property that no longer complied with strategy after a holding period of around 25 years.
