PropertyEU
Deka buys two more Friedrich Carré assets for EUR 53m
Date: 7 October 2011
Category: Investment
German fund manager Deka Immobilien has acquired two further assets at the Friedrich Carré mixed-use complex in Berlin for EUR 53 mln. The assets will be added to Deka’s open-ended fund Deka Immobilien-Europa. The vendor is DBR Friedrichscarrée, a subsidiary of Oslo-based Prime Office Germany.

Friedrich Carré consists of seven buildings in total, four of which Deka has bought since the beginning of 2011.

The newly acquired assets comprise a total lettable area of some 11,500 m2 with a mix of office, retail and storage space and are 90%-leased.

Jones Lang LaSalle advised on the deal. DekaBank is the biggest provider of open-ended funds in Germany. The bank’s two fund management subsidiaries manage more than EUR 22 bn in assets.
 
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