Deka Immobilien sells Brisbane Central Plaza 2 tower to GPT Group for AUD 380 million
Deka Immobilien sold the Central Plaza 2 office tower in Brisbane to GPT Group for about AUD 380 million, net of future tenant incentives. The sale aims to avoid re-leasing risk as anchor tenant Queensland Investment Corporation plans to vacate.
1. Sale and fund plans
Deka Immobilien sold the Brisbane office tower, held by the open-ended Deka-ImmobilienGlobal fund, for about AUD 380 million, equivalent to about EUR 235 million, net of future tenant incentives. Deka acquired the asset in 2020 following a refurbishment. The sale aims to avoid re-leasing risk as anchor tenant Queensland Investment Corporation plans to vacate, and proceeds are earmarked for reinvestment as the fund seeks to capitalize on global real estate cycles.
