Deka Immobilien GmbH has acquired a newly-built office property in Washington D.C. designed by acclaimed architects Murphy/Jahn.
The vendor is real estate investment trust Vornado Realty Trust. The 12-story landmark building with an overall rentable area of 23,000 m² is located in Washington D.C.´s central business district (CBD) and was recently awarded a LEED-CS Gold certification.
The state-of-the-art office building was purchased for the open-ended property fund Deka-ImmobilienGobal for approximately US $208 million. The property is fully leased on a 15-year term to an internationally renowned law firm. CB Richard Ellis' buy-side investment advisory group, Global Property Advisors (GPA), with the support of the firm's Washington DC Capital Markets team, represented Deka in this transaction.
The DekaBank Group is the largest provider of open-ended property funds in Germany. The two investment companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH, together manage fund assets of over €19 billion. As a sister company, Deka Immobilien GmbH is responsible for the acquisition and disposal of properties, management of these assets and all other property services as well as for product development. Together with the Real Estate Lending Unit of DekaBank, the three companies form the Group's Asset Management Property business division.