Press Release
Deka Immobilien purchases office property in Belgium
Frankfurt, 18.12.2024
The Deka Immobilien Investment branch in Belgium has acquired an office building in Brussels for the portfolio of the open-ended property fund Deka-ImmobilienMetropolen. The property was sold by AG Insurance. The parties have agreed not to disclose the purchase price.
Comprising around 7,300 sqm of leasable space and 74 parking spaces in an underground car park, the Tervueren II office building was built in 1976 and underwent core renovation in 2019. The high-quality and extremely energy-efficient property is fully let on a long-term lease to the law firm Loyens & Loeff, which is headquartered in the Netherlands. The location in Brussels' most important office district, Leopold, offers excellent infrastructure. The property has been rated "Very Good" in construction by BREEAM, the British certification for sustainable construction.
With its first acquisition in Belgium, the fund management has expanded the portfolio of Deka-ImmobilienMetropolen to include a property of a high ESG standard in close proximity to the Belgian capital's notable EU institutions. The fund has taken advantage of the opportunity to acquire the property at advantageous purchase conditions.
About Deka
DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Together with its subsidiaries it forms Deka Group. With total customer assets of more than EUR 411,5 billion (as at 30/09/2024) and more than 5.6 million securities accounts, DekaBank is one of the largest securities services providers and real estate asset managers in Germany. It provides private and institutional investors with access to a wide range of investment products and services. DekaBank is firmly anchored in the Sparkassen-Finanzgruppe (Savings Banks Finance Group) and tailors its product portfolio to the requirements of its owners and sales partners in the securities business.
The Deka Group's global real estate expertise is pooled in its Real Estate Division. The management companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH provide management and support for around EUR 50 billion (as at 31/12/2023) in real estate assets.
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