DekaBank, asset manager for the German Savings Bank Finance Group, has revealed plans to spend as much as \u20ac500 million–or approximately $776.4 million–on commercial real estate in the United States, according to Reuters. While the scope of DekaBank’s investments with regard to property type was not made clear, the company plans to focus on some of the country’s leading office markets, including Boston, Los Angeles, New York, San Francisco, Seattle and Washington, D.C. But what a difference a year makes, In April 2007, the company sold three U.S. assets from its Deka-ImmobilienEuropa fund for about $725 million as part of its portfolio repositioning program, which included focusing on its core European markets. The company sold the Manhattan office property at 1330 Avenue of the Americas, which it had owned since 2000, to Mackowe Properties. It also disposed of Boston’s 600 California Street, finding an owner in Beacon Capital Partners L.L.C. eight years after having acquired it. Additionally, its Highland Landmark II property, located in Chicago, was sold after a nine-year hold to GLL Real Estate Partners in Munich. Headquartered in Frankfurt, DekaBank is the largest operator of open-ended property funds in Germany, according to numbers as of one year ago. Its capital investment companies include Deka Immobilien Investment GmbH and WestInvest Gesellschaft f\u00fcr Immobilienfonds mbH, which manage assets totaling approximately \u20ac17 billion, and the year-old Deka Immobilien GmbH.Blog Story and Comments<\/p>\n","protected":false},"excerpt":{"rendered":"
DekaBank, asset manager for the German Savings Bank Finance Group, has revealed plans to spend as much as \u20ac500 million–or approximately $776.4 million–on commercial real estate in the United States, according to Reuters. While the scope of DekaBank’s investments with regard to property type was not made clear, the company plans to focus on some…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003819735","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n