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Deka Immobilien makes its first investment in Seattle

2022-02-24T09:13:00

Deka Immobilien started the New Year by making its largest single acquisition, outside of Germany to date, in the US. The company acquired the Google campus “Lakefront Blocks 25 & 31” in the South Lake Union neighbourhood of Seattle for USD 802 Mio.

Seattle-based Vulcan Real Estate sold the two neighbouring upscale building ensembles, which were completed in 2019. As part of a joint venture, Block 25 will be transferred into the open-ended real estate funds Deka-ImmobilienGlobal (60%) and Deka-ImmobilienMetropolen (40%). Block 31 will be allocated in full to the Deka-ImmobilienGlobal portfolio.

Read the full press release now at the link below 

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