German properties sell for more than $1b
In separate deals, 52 German properties were sold totaling more than $1.06 billion in sales price.
Deka Immobilien has bought a retail portfolio, Julia portfolio, valued at €700 million ($780 million). Dutch private investors represented by D & R Invest are the sellers.
The portfolio totals 51 urban commercial properties with more than 1.47 million square feet. The buildings are spread over 37 cities and are almost fully let.The main tenants are chain stores in the fashion industry. Assets include Hannover, Bahnhofstraße 8; Frankfurt am Main, Schweizer Straße 33–37; Oldenburg, Achterstraße 1.2, Achterstraße 7, Lange Straße 74; Saarbrücken, Bahnhofstrasse 106-108; Würzburg, Barbarossaplatz 5–7.
Deka plans to use the acquisition to further expand its institutional business. Approximately 44 properties with a total vo