Deka Immobilien has made the first investments for its new special fund Domus Megatrends Europe with the acquisition of two office buildings in Dublin and Madrid for a total of more than €100 million.
BNP Real Estate Investment Managers has sold the property in Ireland’s capital, and the British investment company Blue Coast Capital has sold the office building in Spain’s capital.
The property “8 Hanover Quay” in Dublin was built in 1920 and revitalized in 2016 in new building quality. The rentable area of around 3,750 sqm will be used completely and long-term by Airbnb Ireland. The property is located on the Grand Canal Dock in Dublin’s South Docks submarket. This location, which is well connected in terms of transport, has developed into the most popular office area for tenants in recent years. The property was certified with the British seal of approval for sustainable building BREEAM “Very Good”. In February 2020, Deka Immobilien had already purchased the neighboring building “The Reflector” for the open-ended real estate fund “Deka-ImmobilienMetropolen”.
The “Ancora 40” office building in Madrid, built in 1990, was completely renovated in 2021 and is characterized by a high level of space efficiency. It includes more than 7,000 square meters of rentable space and 57 parking spaces. The four interconnected parts of the building are fully leased to Just Eat Takeaway, Europe’s largest online provider of delivery services in the catering sector. “Ancora 40” is located in the established submarket Méndez Álvaro. Due to its proximity to the Atocha train station, the largest train station in Madrid and also the main hub for the AVE high-speed trains, the property offers an excellent infrastructure. It is certified Gold with the Leadership in Energy and Environmental Design (LEED) standard. With this purchase, Deka has been acquiring another property in Spain for years.
The two properties are the starting objects of the newly launched “Domus Megatrends Europe” fund. The special fund selects 50 top European real estate locations based on the megatrends of new work, ecology and urbanization. The main focus is on valuable “Core/Core+” real estate in the office, retail, logistics and hotel segments.