Deka Immobilien sells office building in London for GBP 265 million

by   CIJ News iDesk III
2021-02-17   17:48

Deka Immobilien has sold an office building in London from the portfolio of the open-ended real estate fund Deka-ImmobilienGlobal for GBP 265 million. The property was acquired by the real estate asset manager CBRE Global Investors.

The “Atlantic House” was built in 2001 and offers more than 24,000 sqm of leasable space and 23 parking spaces. It is fully leased to the international commercial law firm Hogan Lovells International until the end of 2026. The property is in a prominent location on an island on the north side of the Holborn Viaduct in the western part of the City of London. It has received British BREEAM “Very Good” certification for sustainable construction.

This transaction allows fund management of Deka-ImmobilienGlobal to sell an older building after a holding period of close to 17 years in accordance with its strategy for the fund.

DekaBank is the Wertpapierhaus (securities services provider) of the German Savings Banks Finance Group. Together with its subsidiaries it forms Deka Group, which has total customer assets of around EUR 323 billion (as at 30/09/2020) and around 4.9 million securities accounts, making it one of the largest securities services providers and real estate asset managers in Germany. It provides retail and institutional clients access to a wide range of investment products and services. DekaBank is firmly anchored in the Sparkassen-Finanzgruppe and designs its portfolio of products and services to meet the requirements of its shareholders and sales partners in the securities business.

The Deka Group’s global real estate expertise is pooled in its Real Estate Division. The management companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH provide management and support for around EUR 43 billion in real estate assets (as at 31/12/2020).