Deka Immobilien sells office building in the Netherlands
04.08.2020Deka Immobilien has sold an office building in Amsterdam. The buyer is the global asset manager Aviva Investors. The parties agreed not to disclose the purchase price. The property was sold from the portfolio of the open-ended real estate fund Deka-ImmobilienGlobal.
Located at Strawinskylaan 10, the property offers more than 8,100 m² of leasable space on four storeys and 82 parking spaces. It is fully leased to a law firm under a long-term lease. The property is on the western edge of the Zuidas central business district of Amsterdam.
The building, constructed in 1988, was acquired by Deka-ImmobilienGlobal as a refurbishment with extension areas in 2004. After holding the property for 16 years and receiving stable cash flows, the opportunity arose to sell to the benefit of the investors. The sale was performed as part of the active management of the portfolio.
About Deka
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 310 billion (as at 30/06/2020) 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 two investment companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH, manage and service around EUR 40 billion in real estate assets (as at 31/12/2019).
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