German investment manager Deka Immobilien has acquired the Cubes office property in Düsseldorf from Axa IM Alts.
Financial details were not disclosed.
Axa IM Alts divested the property on behalf of a client. The office, which was completed in 2012 and is located at Cecilienallee 6–7, comprises a leasable space of 15,000 m2 and 225 parking spaces.
It will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienEuropa.
The three offset cubes that form the property have been leased in full and over the long term to two users. The main tenant is the business and tax consultancy firm Baker Tilly. The high-end office building is located in the Düsseldorf district of Golzheim at the edge of the Kennedydamm sub-segment near the Rhine.
Cubes has been certified with the DGNB's Silver quality mark for sustainable building.
Deka-ImmobilienEuropa fund management described the asset as a 'premium-quality property' which 'holds out the prospect of stable yields'.
Source: propertyeu.info on the 4th of January