German property fund manager Deka Immobilien has announced the acquisition of the Mokotowska Square office property in Warsaw from developer Yareal International. The companies agreed not to disclose the financial details.

Deka said the property will be added to the portfolio of its WestInvest ImmoValue open-ended real estate fund for institutional investors.

Located in downtown Warsaw, the building was recently refurbished and currently involves around 10,200 m2 of rental space spread over eight floors. It is multi-let to 12 occupiers with international law firm Beiten Burkhardt and real estate broker Knight Frank as the anchor tenants. The asset offers some retail space on the ground floor, mostly occupied by Escada and MarcCain. It is aiming for BREEAM environmentally-sustainable certification.

Mokotowska Square is the latest investment made by Deka over the past month. In December the German fund manager bought a 26,600-m2 office complex in Bremen, the Parkboulevard specialist retail centre in Rotterdam as well as a logistics warehouse in Kassel from developer Gazeley for around EUR 35 mln.