Leading Frankfurt real estate investor acquires office tower in Australia

Leading Frankfurt real estate investor acquires office tower in Australia

Melbourne, with 4.3 million inhabitants, is Australia’s second largest city and the urban centre on the south-east coast of the continent. The metropolis is also an economic hot spot and an important financial centre of international standing. There is a high demand for office space for the many companies and institutions located or operating in Melbourne. This makes investments in office properties interesting – also for the Frankfurt property investor Deka Immobilien. This article is based on the unique List of the 400 largest German real estate investors in Germany.

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Completely geared to bicycle-friendliness

The latter recently acquired an office tower in the city of Melbourne. It is a property built in 1994 in the middle of the Central Business District. The building offers 38,000 square metres of office space, as well as so-called end-of-trip facilities – extra areas for cyclists for safe storage, refreshment, regeneration and repairs. The building has 276 integrated bicycle parking spaces. The office tower is fully let on a long-term basis to a total of 16 tenants. This guarantees permanently stable and solid income. The main tenant is the industrial service provider and plant engineering company Jacobs Group. The building is certified with four of six Nabers stars, an Australian rating system for energy efficiency and environmental compatibility.

Deka Immobilien acquired the property for an impressive 280 million euros from the Australian property group Dexus. The purchase was made for the open-ended public property fund Deka-Immobilienglobal. The intention was to deliberately increase the fund’s property share in the Asia-Pacific region. Deka Immobilien is responsible for property funds within the Deka Group. Deka Group is the investment company of the German Savings Banks Organisation and belongs to DekaBank, the central securities service provider for the savings banks. Deka Immobilien invests in properties worldwide and has approximately 44 billion euros in assets under management.
Source: Immobilienmanager Picture source: Unsplash

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