Deka Immobilien makes an investment in the Netherlands
Frankfurt – 16.09.2021
Deka Immobilien has acquired a mixed-use property in The Hague. The seller is a fund affiliated with MCAP Global Finance (UK) LLP, the European subsidiary of New York headquartered Marathon Asset Management LP. The property is to be transferred to the WestInvest InterSelect open-ended real estate fund. The parties agreed not to disclose the purchase price.
The "Sijthoff City" property, which underwent core renovation 2015, is located in the main pedestrian zone of The Hague. The total leasable space of around 11,500 square metres is divided into retail outlets on the ground floor and first floor, with offices on the four floors above. The property offers a broadly diversified tenant mix, including retail, catering and office spaces. The building is also considered a new landmark by The Hague due to its striking exterior. The building has received the British BREEAM "Very good" certification for sustainable construction.
With this acquisition, WestInvest InterSelect is further expanding its portfolio in the Netherlands with a high-end, certified property in an excellent retail location.
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 368 billion (as at 30/06/2021) and more than 5 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 43 billion in real estate assets (as at 31/12/2020).