German fund manager Deka Immobilien has sold the Carrea office property in the Munich area of Parkstadt Schwabing for around EUR 30 mln. The buyer is Competo Bestandsfonds Plus, a fund managed by Munich-based Competo Capital Partners.

Deka Immobilien acquired the building in 2003 for its Deka-ImmobilienEuropa open-ended property fund. The scheme offers around 11,200 m2 of lettable area and is leased to a number of tenants in the IT, financial and fashion industries. Colliers Schauer & Schöll advised the seller.

Also this week, Union Investment Real Estate announced the sale of the Mövenpick hotel in Stuttgart-Messe for around EUR 16 mln. The property, which was acquired by Union two years ago for its Unimmo:Europa fund, was sold to an affiliate of hotel operator Grand City Hotels & Resorts. The asset offers 11,300 m2 of space spread across 229 hotel rooms.