German fund manager Deka Immobilien has bought the Lindley Carrée office building in Hamburg from developer Hochtief Projektentwicklung for an undisclosed sum.

The property, which was completed in 2010, provides a total leasable area of around 23,000 m2 and is located in Hamburg's City Süd business district. The biggest tenant is insurer Neue Leben Lebensversicherung.

Deka will add the property to its WestInvest ImmoValue fund which focuses exclusively on institutional investors.

News of the purchase comes a day after Deka announced it had bought the 'Vienne Rocher' office development in the centre of Paris for as much as EUR 330 mln.

Deka Immobilien Investment is the biggest manager of open-ended real estate funds in Germany with total fund equity at 31 May 2011 of around EUR 22 bn.