DIFA has sold a portfolio of German office properties known as the Nautilus properties to Tishman Speyer and IVG for €860.5m (£575m).

US group Tishman Speyer has paid €670m (£448m) for ten buildings belonging to DIFA-Fonds Nr. 1 and IVG has bought four properties, owned by DIFA-GRUND, for €190m (£127m). The buildings are located in Berlin, Düsseldorf, Hamburg, Frankfurt, Stuttgart and Munich and include the Westend Carrée and Aculeum buildings in Frankfurt.

"This sale in favourable market conditions enables us to optimise our portfolio structures, which were overweight in the office sector - particularly in the Rhein-Main area," says DIFA management board member Dr. Frank Billand. "But even after this transaction, Germany remains our most important investment location, with more then 120 properties across all DIFA funds worth a total of around €5bn."

He said DIFA's strategy was to gradually expand the portfolio of DIFA-Fonds Nr. 1 by targeting investment in Germany and other European countries. DIFA-GRUND has invested around €200m (£134m) so far this year and plan further acquisitions in European and overseas markets that offer good growth potential.

DIFA said it also intended to continue taking advantage of investment opportunities inside Germany. Jones Lang LaSalle advised DIFA.