BOSTON—Blackstone continues to sell off its office assets here. The New York City-based global asset management firm sold its 175 Federal St. office building here to German banking firm Deka Immobilien GmbH for $139 million.

The 17-story, 227-365-square-foot office building, also known as the Fiduciary Trust Co. building, was built in 1979 and is located opposite South Station. The property will be placed in the portfolio of open-ended real estate mutual fund Deka-ImmobilienGlobal. JLL represented Blackstone in the sale of 175 Federal St. The property was put on the market for sale in January. JLL managing directors Frank Petz, Chris Angelone, Jessica Hughes and Matthew Sherry marketed the property for sale for Blackstone. JLL officials had no comment on the transaction.

The office building is leased to 34 tenants, including anchor Fiduciary Trust Co., and contains more than 220,000 square feet of leasable space. In its press announcement, Deka Immobilien states that the Boston office building will help expand its geographic diversification. The 175 Federal St. office building is the fund's third location—it also has holdings in Washington, DC and New York City. “Due to its size, transparency, liquidity and dynamic energy, the US real estate market continues to be an important target country for the fund,” Deka Immobilien noted in its announcement. A Deka spokesperson tells Globest.com the firm owns seven assets in the United States, the most recent purchases being the 175 Federal St. office building in Boston and a logistics center in the Hartford, CT metro area.