German property fund invests in Canberra

A German property fund has invested $135.1 million into the Canberra Outlet Centre.

The Canberra Outlet Centre, once part of the DFO discount shopping centre empire, has been bought for $135.1 million by Armada Funds Management on behalf of Deka Immobilien, a German property fund which offers professional management of property assets for private investors.

The 44,870 sqm shopping centre is Canberra’s only outlet centre located in the heart of Fyshwick on the corner of Newcastle Street…