Deka buys in Mexico City and sells in Basque Country
Deka Immobilien has acquired an office tower in Mexico City for its open-ended mutual fund Deka-Immobilien Global. The 27-story “Corporativo Reforma Diana” was built in 2013/14 in the Reforma Centro submarket. It has approx. 19,000 sqm of lettable space and 697 parking spaces. Meanwhile, Deka’s mutual fund WestInvest Interselect sold the “Ballonti” shopping mall in the northern Spanish town of Portugalete, near Bilbao, to a joint venture of Madrid developers Bilball Centre Investments and Ballon Investments. CBRE advised Deka on the sale, and Bilball and Ballon on the financing. Deka bought the mall nine years ago for €116mn. Tenants include Eroski, Primark and H&M. The market value given in the most recent fund report was €3 million lower.
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