BNY Mellon reports out of Frankfurt this morning that it has been appointed by Deka Immobilien to provide global fund administration co-ordination and monitoring for its Special Purpose Vehicles (SPVs), in which much of Deka's EUR 40 billion in real estate assets is invested globally.

BNY Mellon says its role is to gradually co-ordinate accounting data from the investee SPVs around the world, review the data, translate it into the required accounting standards(and provide it to Deka Immobilien for its net asset value calculations.

The data is collected through BNY Mellon's Property Management Interface (PMI), a web-based application that enables local accountants across the globe to provide data in a standardized format and automated way. This was a task previously undertaken in-house by Deka Immobilien.

Burkhard Dallosch, Chief Operating Officer of Deka Immobilien Investment GmbH, said: "We were immensely impressed by the commitment and knowledge of the BNY Mellon team as well as with their technology.

"This co-operation further contributes to the standardization and comparability of data in the real estate industry as other organizations are also using the expertise of BNY Mellon. The fund administration of Deka Immobilien has become more efficient and will be able to continue its growth."

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BNY Mellon reports out of Frankfurt this morning that it has been appointed by Deka Immobilien to provide global fund administration co-ordination and monitoring for its Special Purpose Vehicles (SPVs), in which much of Deka's EUR 40 billion in real estate assets is invested globally.

BNY Mellon says its role is to gradually co-ordinate accounting data from the investee SPVs around the world, review the data, translate it into the required accounting standards(and provide it to Deka Immobilien for its net asset value calculations.

The data is collected through BNY Mellon's Property Management Interface (PMI), a web-based application that enables local accountants across the globe to provide data in a standardized format and automated way. This was a task previously undertaken in-house by Deka Immobilien.

Burkhard Dallosch, Chief Operating Officer of Deka Immobilien Investment GmbH, said: "We were immensely impressed by the commitment and knowledge of the BNY Mellon team as well as with their technology.

"This co-operation further contributes to the standardization and comparability of data in the real estate industry as other organizations are also using the expertise of BNY Mellon. The fund administration of Deka Immobilien has become more efficient and will be able to continue its growth."