{"id":1004343821,"date":"2019-08-05T02:36:52","date_gmt":"2019-08-05T10:36:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004343821"},"modified":"2019-08-05T05:27:28","modified_gmt":"2019-08-05T13:27:28","slug":"deka-group-enters-portland-with-48m-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/deka-group-enters-portland-with-48m-buy\/","title":{"rendered":"Deka Group Enters Portland With $48M Buy"},"content":{"rendered":"
\"\"<\/a>

6Y. Image courtesy of Collier International<\/em><\/p><\/div>\n

Deka Immobilien, the real estate investment division of Deka Group, has acquired 6Y, an 11-story creative office building in Portland. A joint venture between KBS and True North Management Group sold the Class A property for $47.5 million.<\/p>\n

\n

READ ALSO<\/strong>: Portland Mixed-Use Project Moves Ahead With $460M Loan<\/a><\/p>\n

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The 116,244-square-foot building is located at 811 SW Sixth Ave., in the city’s central business district. The property has been renovated into creative office space and now includes a tenant lounge, a new lobby with a high-end coffee operator, bike parking, showers on every floor and locker rooms.<\/p>\n

Deka\u2019s recent Portland office purchase marks its third U.S. acquisition in the last nine months. The company has also purchased a 50,000-square-foot grocery-anchored retail at 60 N. RT 17 in Paramus, N.J., for $37 million and a 12-story, 68,000-square-foot office building at 1100 Vermont Ave. in Washington, D.C., for $41 million, according to Robert Stamm, Collier International\u2019s Investment Advisory Group executive managing director, who represented Deka in the acquisition. Collier\u2019s team also included Andres Roldan, managing director, and Chris Johnson, executive vice president from the Portland office.<\/p>\n

Stamm, who has represented Deka for a decade, explained to Commercial Property Executive<\/em> that \u201cDeka is very selective in its investments and employs significant vetting upfront\u201d <\/em>and 6Y represented a perfect fit due to its creative label and central location.<\/p>\n

\u201cThe DINA fund is in full growth mode with significant allocation of capital to invest,\u201d <\/em>Stamm told CPE<\/em>, referring to Deka\u2019s North America Fund name. \u201cThe success to date has drawn the attention of the investment community both in the U.S. and back home in Europe.\u201d<\/em><\/p>\n

KBS\u2019 selling streak<\/h2>\n

KBS and the White Plains, N.Y.,-based investment company True North Management Group were represented by a Newmark Knight Frank team led by Vice Chairman Nick Kucha, alongside Directors James Childress and Bill DeLacy.<\/p>\n

KBS is continuing its selling streak with 6Y in Portland, which comes on the heels of the $205 million sale of Palo Alto Technology Center<\/a> in California, the disposition of a 300,000-square-foot Raleigh<\/a> office and the sale of a 10-story South Florida office<\/a>, all of which were announced in July.<\/p>\n","protected":false},"excerpt":{"rendered":"

The German financial company broke into the local office market with its purchase of a Class A building in the city\u2019s central business district. <\/p>\n","protected":false},"author":883,"featured_media":1004343902,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,21742,21747,28440,15],"tags":[32763,37548,43841,36614],"class_list":["post-1004343821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-latest","category-office","category-portland","category-west","tag-colliers-international","tag-deka-immobilien","tag-kbs","tag-true-north-management-group"],"acf":[],"yoast_head":"\nDeka Group Enters Portland With $48M Buy - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/deka-group-enters-portland-with-48m-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deka Group Enters Portland With $48M Buy\" \/>\n<meta property=\"og:description\" content=\"The German financial company broke into the local office market with its purchase of a Class A building in the city\u2019s central business district.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/deka-group-enters-portland-with-48m-buy\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-05T10:36:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-05T13:27:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/6Y-Portland-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/deka-group-enters-portland-with-48m-buy\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/deka-group-enters-portland-with-48m-buy\/\",\"name\":\"Deka Group Enters Portland With $48M Buy - 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