German fund manager Deka Immobilien is buying the Bis Two office complex in Vienna on behalf of the open-ended property fund Westinvest Immovalue. The vendor is Austrian developer IC Projektentwicklung. The financial details were not disclosed.

The two-building complex was completed in 2010 as part of the larger Viertel Zwei district development. The Bis Two properties offer 17,000 m2 of office space.

DekaBank Group is the largest provider of open-ended property funds in Germany. Its investment companies Deka Immobilien Investment Westivest managed EUR 22 bn of assets at end-July 2011.