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13 February 2012

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Germany's Deka funds spend e360m in Italy, Australia, Canada

Germany's DekaBank, the central investment bank of the savings bank system, has continued its real estate acquisition program, acquiring assets in Italy, Australia and Canada over the last six weeks for a combined cost of e363m. In the latest acquisition, Deka Immobilien Investment entered a joint venture with Henderson Global Investments to pay BNP Paribas REIM e28m for the Milan office property Viale Jenner for its single-asset Deka-S-PropertyFund No. 1. Deka also made its Canadian debut last month in downtown Vancouver for e186m, after earlier completing the purchase of two properties in Australia for e150m.

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