Press Release

Deka Immobilien acquires fifth property for Deka-ImmobilienNordamerika

29.11.2018

Deka Immobilien GmbH has acquired a core office property in Washington D.C. for approximately USD 40 million. The office building was sold by a family office. The property will be added to the portfolio of the open-ended real estate fund, Deka-ImmobilienNordamerika (DINA).

The “1100 Vermont” office building was built in 1961, extensively renovated between 2012 and 2014, and provides more than 6,300 m² of leasable space and 32 parking spaces. The space is distributed over twelve floors and is fully leased under long-term leases with 21 tenants in a variety of sectors. The property is located in the heart of downtown Washington in the East End submarket, and offers an outstanding infrastructure. It lies in the vicinity of the White House, with direct access to all six Metro lines.

This fifth investment for DINA allows fund management to expand the office portion of the initial portfolio with a property that will benefit from the positive development of the rental market. The fund was launched in 2016, is listed in US dollars and is aimed at high net worth private investors. The investment focus is commercial property in the US. Canadian and Mexican real estate may also be added to the portfolio mix.

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

Christian Pommée

Press officer

T +49 69 7147 7761

christian.pommee@deka.de