Deka Acquires 700,000 Sf Office Complex Through Savills Studley U.S. Cross Border Team And Savills Mexico
Mexico City (November 24, 2014)  

Deka Immobilien GmbH, the real estate investment fund of German-based DekaBank, has acquired a pair of prime office buildings within the Terret Polanco complex in Mexico City from Tresalia Capital Investment Fund for an undisclosed sum. The transaction was brokered by Savills Studley’s Cross Border Investment team and Savills Mexico.

The 700,000 square-foot complex is comprised of two 18-story class A office properties, including the Torre Sur and the forthcoming Torre Norte tower. Both properties were developed by one of the top real estate developers in Mexico, Abilia.

Completed in 2013, the Torre Sur is 100% occupied by anchor tenant, Nestlé. Following the closing of the deal, the building will be transferred to the property portfolio of the open-ended real estate fund Deka-Immobilien Global. The second office tower, Torre Norte, is still under construction and expected to be completed by the fourth quarter of 2014.

Savills Studley’s US Cross-Border Group, led by Robert Stamm and Savills Mexico led by Javier Kutz , advised Deka Immobilien GmbH in the sale. The seller, Tresalia Capital Investment Fund, was unrepresented.

Borja Sierra, Head of U.S. Capital Markets for Savills Studley, commented: “This is a great example of collaboration between our US and Mexican teams where deep local market knowledge combined with our ability to identify and structure the best global capital allow us to deliver great results for our clients at a time when competition for core income is at its height. My sincere congratulations to the teams.”

Both properties are located in the up-and-coming Nuevo Polanco submarket in the central business district of Mexico City, with unparalleled access to public transportation, shopping and other neighbourhood amenities. The buildings are on track to obtain LEED Gold sustainability certification for Torre Sur and LEED Silver for Torre Norte.

About Savills Studley

Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

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Savills Studley Cross Border Investments

Savills Studley Cross Border Investment (CBI) is an advisory practice, comprising our new Savills Studley relationship, and our previous existing US presence, tailored towards foreign investors who require specialised advisory and technical services in the United States. CBI assists international clients with all aspects of their investment initiatives, including, but not limited to: Strategy, Buy-Side, Debt Structuring and Disposition services. CBI has successfully advised international clients on approximately $3.5 billion of US commercial real estate transactions since 2009 and continuously collaborates with the network of Savills Cross Border Investment colleagues around the world.

About the DEKA Group

DekaBank is the investment company of the German Savings Banks Finance Group. DekaBank and its subsidiaries form the Deka Group, which has total customer assets of around EUR 208 billion (as at 30 June 2014) and around four million securities accounts, making it one of the largest investment service providers in Germany. It provides access to a broad range of investment products and services for private and institutional investors. DekaBank is strongly anchored in the Sparkassen-Finanzgruppe and develops its portfolio of products and services to satisfy the requirements of its shareholders and its distribution partners in the securities business.

The Deka Group’s global property expertise is pooled in its Real Estate business division. Capital investment companies Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH manage and service property assets worth 25.9 billion Euros (fund assets of 25.5 billion Euros according to the BVI method) as at 30 June 2014, jointly with service company Deka Immobilien GmbH. DekaBank’s property financing department is the second key element within the business division and generates a new business volume of some 2.5 billion Euros p.a.