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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Deka Immobilien - Press Release acquisition Seattle - 2022-02-24PDF, Size 95.14 kb