Deka’s debt fund has invested £10m in a tranche of its sister company’s loan on 50 Bank Street, E14.
Deka Realkredit Klassik, which is part of the fund management arm of Deka, took a tranche of the £92m arranged by the UK office of the banking organisation.
The investment was prompted by an ability for the fund to receive a margin which is around 40bps higher than can be achieved on investments in the German and French markets.
Another factor was the high quality of the asset, which is a 214,000 sq ft office and retail space in Canary Wharf.
The building is currently fully let. The main long-term tenant is Northern Trust.
