Press Release
Deka Immobilien sells shopping centre in Spain at profit
Frankfurt, 30.06.2025
Deka Immobilien has sold a shopping centre in Spain from the portfolio of the WestInvest InterSelect open-ended real estate fund for around EUR 135 million. Lighthouse Properties p.l.c., which is listed on the Johannesburg stock exchange, in South Africa and specialises in shopping centres on the Iberian Peninsula, has acquired the property.
The Espacio Mediterraneo shopping centre, with a leasable space of almost 50,000 sqm and over 1,500 parking spaces, is located in Cartagena, in the south-east of Spain. The shopping centre is almost fully let and has anchor tenants such as Zara and Primark. Since its completion in 2007, the property has been owned by WestInvest InterSelect. It has been rated "Excellent" by BREEAM, the British certification for sustainable construction.
This sale above book value allows the Fund Management of WestInvest InterSelect to generate a profit for investors. It also completes the strategic sale of all of the out-of-town shopping centres previously held by Deka on the Iberian Peninsula. The Fund plans to reinvest the proceeds.
About Deka
Deka Group, consisting of DekaBank Deutsche Girozentrale and its subsidiaries, is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). With total customer assets under management of 416 billion euros (as at 31.12.2024) and 5.7 million securities accounts, it is one of the largest securities service providers and real estate asset managers in Germany. Deka Group offers investment solutions and services for private and institutional investors and aligns its products with the requirements of its owners, the savings banks.
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 EUR 51 billion (as at 31/12/2024) in real estate assets.
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