Press Release

Deka Immobilien purchases landmark building in Frankfurt

30.11.2017

Deka Immobilien GmbH has exchanged contracts to secure the purchase of the Tower 185 office skyscraper in Frankfurt am Main. The sellers are CA Immo Deutschland GmbH, WPI Fonds SCS-Fis, Fagas Asset GmbH and an additional pension fund company. The purchase price comprises approximately 775 million Euros. Ownership of the property will be shared by the open-ended real estate funds Deka-ImmobilienEuropa, WestInvest InterSelect and Deka-ImmobilienGlobal, as well as the WestInvest ImmoValue fund, an investment vehicle focussed upon institutional investors.

“The acquisition of Tower 185 is one of the largest transactions carried out in Germany in 2017,” stated Victor Stoltenburg, Head of Acquisitions and Sales Germany at Deka Immobilien. “This purchase allows us to acquire a high quality and exceptionally well-specified property within one of the most desirable real estate markets in Europe.”

The property was completed in 2011 and offers more than 100,000 m² of leasable space and 552 parking spaces. The building is the fourth tallest office building in Germany, is centrally located on Friedrich-Ebert-Anlage in the city centre and offers excellent access by public and private transport. It is leased to more than 20 high quality tenants with international interests under long-term leases, with PricewaterhouseCoopers (PwC) occupying more than 60 per cent of the space.

The building has received Leadership in Energy and Environmental Design (LEED) Gold certification as well as DGNB Gold certification for sustainable construction.
The buyer was advised on the acquisition by GSK Stockmann and Ernst & Young, additional advice was provided by CBRE and Drees & Sommer.

About Deka

DekaBank is the Wertpapierhaus (securities services provider) of the German Savings Bank Finance Group. Together with its subsidiaries it forms the Deka Group. The Deka Group has total customer assets of around EUR 283 billion (as at 31/12/2017) and more than four million securities accounts, making it one of the largest securities services providers and real estate asset managers in Germany today. It provides retail and institutional clients access to a wide range of investment products and services. DekaBank Deutsche Girozentrale celebrates its 100th anniversary in 2018.

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, and the service company, Deka Immobilien GmbH, manage and service around EUR 32 billion in real estate assets (as at 31/12/2017).

Your contact

Dr. Daniela Gniss

Press officer

T +49 69 7147 2188

daniela.gniss@deka.de