Press Release

Deka Immobilien acquires office tower in Australia

16.01.2020

Deka Immobilien has exchanged contracts to secure the purchase of an office building for around EUR 230 million in Brisbane, the capital of the state of Queensland, in the north-east of Australia. The seller is a joint venture 50% owned by the Lendlease managed Australian Prime Property Fund Commercial. The property will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienGlobal.

The “Central Plaza Two” property is a top property located in Brisbane's so-called “Golden Triangle” in the heart of the central business district. It offers around 32,000 m² of leasable space, 211 parking spaces and 125 bicycle parking spots, as well as high quality “end-of-trip facilities” that  provide common space for showers, bicycle repair, a fitness centre, etc. The property is occupied by 22 tenants, with the main tenant being the Queensland Investment Corporation. The property was completed in 1990, revitalised in 2018 and has received 4.5-star NABERS certification. The NABERS energy efficiency and environmental rating system was established in 1999 to create uniform ratings for buildings in Australia. The top rating is five stars.

This transaction allows the fund management of Deka-ImmobilienGlobal to enter another location in Australia in addition to Melbourne, Sydney and Canberra and strengthen the regional diversification of the Asia-Pacific sub-portfolio with a first class property in an excellent location.

About Deka

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 306 billion (as at 30/09/2019) and around 4.7 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 two investment companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH, manage and service around EUR 40 billion in real estate assets (as at 31/12/2019).

Your contact

Christian Pommée

Press officer

T +49 69 7147 7761

christian.pommee@deka.de

Dr. Daniela Gniss

Press officer

T +49 69 7147 2188

daniela.gniss@deka.de