"We have taken the opportunity to further diversifyDeka-ImmobilienGlobal's portfolio with the acquisition of 'BentallV' and are investing in an attractive and sound location with goodgrowth prospects," says Thomas Schmengler, managing director ofDeka Immobilien in a release.

Bentall V was built by SITQ. The first phase of the projectcompleted in 2002, while the second, and final phase, finished in2007. The 33-story building is one of the most sought-afterbuildings in the business district; it has 583,000 square feet ofrentable space. The property is also certified in Canada as beingone of the most environmentally friendly buildings.

"The acquisition stabilizes the fund's high occupancy rate whichcurrently stands at approximately 98% and increases the proportionof Deka-ImmobilienGlobal's portfolio allocation to North Americafrom 12.6% to around 20%," Schmengler says.

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