Deka Immobilien sells retail property at a profit in Japan

Transaction | 2023-12-15

Deka Immobilien has profitably sold the prime retail property “Don Quijote” in Tokyo. With this move, the fund management consistently implements the dynamic adjustment of Deka Immobilien's real estate portfolio, aiming to continue generating optimal returns for its investors. The sale of the Don Quijote Building marks a strategic step in line with current developments in the Japanese real estate market.

Don Quijote Co. Ltd. acquired the retail property from the portfolio of the open-ended real estate public fund Deka-ImmobilienGlobal, which predominantly invests in commercial properties (office, retail, hotel, logistics) in countries outside the European Economic Area. The Don Quijote Building, built in 1984, spans an area of more than 7,400 square meters of retail space and includes 36 parking spaces.

The property is conveniently located two stops north of the main station in the Akihabara submarket. Following extensive renovations, Deka Immobilien acquired the property in 2004 for Deka-ImmobilienGlobal. Since then, the entire building has been leased to Don Quijote. Don Quijote is part of the publicly listed Pan-Pacific International Holdings and operates discount department stores in Tokyo and other cities in Japan.


The successful transaction reflects the currently favorable situation in the Japanese investment market.


After 19 years of successful ownership, Deka Immobilien's fund management decided to profitably divest from a property that no longer aligns with its strategy. The proceeds from the sale are intended to be reinvested selectively in promising opportunities in the real estate market.