Deka Real Estate buys Dutch office building “The Edge”
German investor Deka Real Estate has confirmed the purchase of “The Edge”, a 40.000m2 office building in Amsterdam from Dutch project developer OVG.
The building will be rented out to Deloitte accountants and law firm AKD. It will be part of Deka’s open ended mutual fund, the price of the acquisition has not been publicised. Construction will be concluded in October this year.
Deka Real Estate has previously acquired the Amsterdam-based Symphony tower for €215.1m from Philips Pension Fund. With an investment portfolio of €24.9bn as of December 2013, Deka is one of Germany’s largest real estate investors.
With average Dutch housing prices remaining below pre-crisis levels, Dutch residential and commercial property has caught the interest of German investors, including BNP Paribas Reim Germany, which already bought residential apartments worth €40m in April this year.