Deka Immobilien makes its first investment in Seattle

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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