Deka Immobilien has exchanged contracts to secure the purchase of an office building in Geneva under a sale and leaseback arrangement with the private bank Pictet & Cie SA. The property is to be transferred to the two open-ended real estate funds WestInvest InterSelect (66%) and Deka-ImmobilienEuropa (34%) by means of a joint venture.
Residential market with stable first half 2020 performance investor uncertainty and lower population growth on the demand-side leading to lower rental levels in peripheral regions - tight market conditions within dense metropolitan city centres.