The Israeli real estate investor Igal Ahouvi has bought an office building in Germany for almost £260 million, according to Property Week magazine.
Ahouvi has also signed an agreement to build four office buildings to serve as a new Deutsche Telekom headquarters. The agreement is with FOM/LEF BW, a joint venture of the German construction company FOM of Heidelberg and a government development corporation called Baaden Watemberg.
The total area of the office buildings will be 89,000 square meters and construction is slated to begin this month.
Deutsche Telekom will be leasing the offices for 15 years for ?80.80 to ?102.90 per square meter.
In March 2005, Ahouvi bought seven Deutsche Telekom sites from Morgan Stanley for ?182 million.