Degi: Office building in Hannover bought for €60mn
Degi Deutsche Gesellschaft für Immobilienfonds mbH has invested around €60mn in an office ensemble in Hannover's List sector for its Degi German Business Fund. Seller of the five office properties in the Pelikan Quarter is Eurohypo AG. Main tenants of the building, with a total area of 29,574 m² and an underground parking garage with 542 spaces, are N-Bank (a public bank owned by the state of Lower Saxony), IKK Niedersachsen (health insurance), HDI Rechtschutz Versicherungs AG (legal insurance), and SSA Global Technologies GmbH. Thomas Beyerle, leader of Research & Strategy at Degi, expects good yields with less-than-average risk from the engagement and announced to the Hannoverschen Allgemeinen Zeitung that there will be more purchases of office properties in Hannover following this one.