German fund manager Deka Immobilien has announced the purchase of Direct Line House in Birmingham's central business district from Fuji Properties Limited for around EUR 25 mln.

The building, which will be included in an individual property fund, was completed in 2001 and offers 5,900 m2 of fully let office accommodation. British insurance company Direct Line Insurance is the tenant.

The acquisition comes hard on the heels of Deka Immobilien's purchase in October of two further assets at the Friedrich Carré mixed-use complex in Berlin for EUR 53 mln.

Deka Immobilien is the fund management arm of DekaBank.