Deka sells Frankfurt tower for EUR 400 mln

MUNICH - Germany's DekaBank has sold a 38-storey tower in Frankfurt to UBS Wealth Management Global Property Fund for EUR 400 mln. The sale of the 'Skyper' skyscraper is part of a restructuring programme begun last August by ceo Franz Waas. 'With this sale in a profitable market, we will reduce the amount of capital we have invested in real estate and will be able to invest more in our core business, giving a better return,' Deka board member Matthias Danne told the AFX newswire service.

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