Deka Immobilien GmbH has bought the Verde office building from Tishman Speyer and the Public Sector Investment Board.
The investment is being made as a joint venture between the WestInvest ImmoValue, a special fund aimed at institutional investors, and the open-ended real estate fund Deka-ImmobilienEuropa. The parties agreed not to disclose the purchase price.
With this transaction, the fund management of WestInvest ImmoValue and Deka-ImmobilienEuropa is securing a high-quality and representative property in an up-and-coming London submarket. The quality of the property, the lease terms and the terms and conditions of the purchase agreement take account of the current discussion about Brexit. The funds are thereby developing towards the strategic target allocation ratio.