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Deka Immobilien divests German portfolio for €220M

Deka Immobilien GmbH raised about €220 million from the sale of 10 properties across Germany, Property Investor Europe reported Dec. 11.

The properties, divested to various buyers, are part of the company's Deka-ImmobilienEuropa and WestInvest InterSelect funds and three other special funds.

The assets in the deal include the Gentle office building in Frankfurt, which was bought by LaSalle Investment Management on behalf of a client, and an 11,000-square-meter office in Bad Vilbel, near Frankfurt, sold to Fairvesta and leased to Stada Arzneimittel.

The remaining properties are in Hamburg, Cologne, Bochum and Münster.