Frankfurt-based Deka Immobilien GmbH has sold an office building in Paris to a pool of French investors advised by DTZ Asset Management for approximately €166 million. The property, Axe France, was built in 2001 and acquired by the Deka-ImmobilienGlobal open-end mutual property fund in 2004. The property is located in the 13th arrondissement and comprises 22,000 square metres of office space.

In other news, the Deka-ImmobilienGlobal open-end fund has also sold the Myeongdong Central Building in Seoul, South Korea, for approximately €58 million. The 19,500-square-metre office property was acquired by a REIT established by JR AMC, a Korean asset manager.

Deka Immobilien also recently acquired two European hotels. In Amsterdam, Deka purchased the American Hotel from