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HANNOVER, GERMANY-Deka Immobilien Investment paid nearly $65 million for the Rosenquartier complex here. Deka made the purchase for its Deka-S-PropertyFund No. 1, according to a report in PropertyEU.

The complex consists of office and retail space, a 340-space parking garage as well as a 148-key hotel. The hotel is under a long-term lease with InterCityHotels. In total Deka has added 56,080 square feet of office space and nearly 27,000 square feet of retail space.

Renovations on the office property just completed. Euroland Projektierungen and Wölbern Projektentwicklungs was responsible for the rehab project, which managed to keep the original 1950s architecture.

To read the report in PropertyEU click here.

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