Press Release

Deka Immobilien acquires first property for a new open-ended real estate fund in London

20.12.2019

Deka Immobilien has acquired the “51 Moorgate” office property in London for around GBP 62 million. The seller was a Skanska Project Development Limited company. The property was revitalised to high quality new construction condition with completion in October 2019. It offers around 4,300 m² of leasable space and is fully let under a long-term lease to Skanska UK plc., a wholly owned subsidiary of the Swedish construction company Skanska AB. It is located near the Bank of England in the London City office submarket and offers excellent access to local public transport. The property has received British BREEAM “Excellent” certification for sustainable construction.

“51 Moorgate” is the first property for the open-ended real estate fund Deka-ImmobilienMetropolen, which was launched in December 2019 and is aimed exclusively at retail investors. Sales are scheduled to begin on 2 January 2020. The new fund will make currency-hedged investments worldwide in commercial properties located in dynamically growing metropolitan areas. The target investment markets are chosen using a city selection model based on the long-term drivers of growth – globalisation, urbanisation, ecology and new working environments.

Two other investments will be added to starting portfolio soon.

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

Dr. Daniela Gniss

Press officer

T +49 69 7147 2188

daniela.gniss@deka.de

Christian Pommée

Press officer

T +49 69 7147 7761

christian.pommee@deka.de