Deka Immobilien has acquired a retail property in Osaka from Sumitomo Corporation, a conglomerate that is among Japan's 30 largest companies. The property will be added to the portfolio of the open-ended real estate fund, Deka-ImmobilienGlobal. The parties agreed not to disclose the purchase price.
The property, which is located at the southern entrance of the pedestrianised area of Osaka's main shopping and entertainment district "Shinsaibashi", comprises of almost 2400 square metres of leasable space. The property, which was completed in 2009, is leased to four tenants with fixed-term leases. The main tenant is the highly creditworthy drugstore chain Sundrug.
This transaction will expand the portfolio in Japan and strengthen the core portfolio in Asia, both from a geographical and a sector-oriented perspective.
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 340 billion (as at 31/12/2020) and more than 5 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).