Deka Immobilien announced on Wednesday that it has acquired the Kranhaus S眉d office building in the Rheinauhafen district of Cologne. The investment volume comes to around EUR 65 mln.
Deka Immobilien announced on Wednesday that it has acquired the Kranhaus S眉d office building in the Rheinauhafen district of Cologne. The investment volume comes to around EUR 65 mln.
The vendor is a joint venture of 'moderne stadt K枚ln' and Deutsche Immobilien. Deka is contributing the property to its ImmobilienGlobal open-ended fund. This is the fund's first acquisition in Germany since the sale of two buildings in 2006.
The 15-floor building was delivered in 2009 and about 75% of the 16,500 m2 of space is let. The principal tenant is law firm Freshfields Bruckhaus Deringer.
