Press Release

Deka Immobilien acquires office tower in Australia

Frankfurt – 30.09.2020

Deka Immobilien has exchanged contracts to secure a high quality office property in Melbourne, Australia, for a purchase price of around EUR 280 million. Dexus, a leading Australian real estate groups, is the seller of the real estate. The building will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienGlobal.

The high quality office tower, located at 452 Flinders Street, was built in 1994 and offers more than 38,000 m² of leasable space, 276 bicycle parking places and high-quality end-of-trip facilities. It is fully leased to 16 tenants under long-term leases. The main tenant is the Jacobs Group. The property is located in the western part of the central business district and offers good access by public and private transport.

It has received four-star NABERS certification. The NABERS energy efficiency and environmental rating system was established in 1999 to create uniform ratings for buildings in Australia. Six stars is the best possible rating.

The transaction allows fund management of Deka-ImmobilienGlobal to strengthen the fund's geographical allocation in the Asia-Pacific region with a first-class property in a prime location.

About Deka

DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Together with its subsidiaries it forms Deka Group. With total customer assets of more than EUR 395 billion (as at 31/12/2021) and more than 5.2 million securities accounts, DekaBank is one of the largest securities services providers and real estate asset managers in Germany. DekaBank is a wholly owned subsidiary of the German Sparkasse savings banks and forms an integral part of the Sparkassen-Finanzgruppe.

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 47 billion in real estate assets (as at 31/12/2021).