TD News International Location: Duesseldorf

Düsseldorf: DWS buys three hotel projects for €157mn

22/05/2019 DWS has acquired the GBI development of three hotels near Düsseldorf’s main station for its “grundbesitz europa” fund. The purchase contract was signed in August of last year. The purchase price is €157.4mn, a spokesperson told TD upon inquiry. A total of 32,700 sqm are to be developed on the 1.7 ha site on Harkortstraße [...]

Düsseldorf: Kö-Galerie for sale for over €420mn

28/03/2019 Allianz is planning to sell the shopping and office complex Kö-Galerie in Düsseldorf, as TD found out from market insiders. The property on Königsallee with 20,000 sqm retail and 30,000 sqm office space plus a Ruby Hotel is said to be on the market for more than €420mn. Allianz had bought it five years ago for [...]

Düsseldorf: IKB sells HQ for €230mn

19/12/2018 Cells Property Investors has acquired the headquarters building of IKB Deutsche Industriebank in Düsseldorf together with an international investor. The seller of the office complex on Wilhelm-Bötzkes-Straße 1/Uerdinger Straße 88-92 is IKB Deutsche Industriebank itself, who will remain the main tenant. According to market insiders, the purchase price was roughly €230mn with a factor of 33. IKB [...]

Düsseldorf: Hannover Leasing buys new structure from Kölbl Kruse

11/12/2018 Hannover Leasing, part of the Corestate Group, has acquired the office building Moskauer Straße 18 in Düsseldorf-Oberbilk. The seller is Essen-based developer Kölbl Kruse, who is currently building the structure with total lettable space of roughly 12,100 sqm according to plans by renowned Düsseldorf architecture firm RKW Architektur +. The purchase price is just short of €55.5mn. [...]

Düsseldorf: NRW-Bank moving into 7,000 sqm in “Herzogterrassen”

10/12/2018 NRW-Bank has leased 7,000 sqm office space in the “Herzogterrassen” building in Düsseldorf-Friedrichstadt. The owner is Blackstone. The bank, currently located on Kavalleriestraße 22 and Ernst-Gnoß-Straße 25, needs additional space due to its growth over the past years, says Managing Board member Dietrich Suhlrie. In November 2019, more than 300 employees will be moving into [...]

Düsseldorf: Publishing group leases 2,000 sqm from Ashtrom

27/11/2018 The publishing group markt intern has signed a 15-year lease for 2,000 sqm office space in Düsseldorf’s “Redrocks” office complex. The lessor is Ashtrom Properties Germany acting as asset manager for the owner. The ensemble on Grafenberger Allee 337 in the Flingern-Nord district has 16,500 sqm. The spaces on the ground floor and on the [...]

Summit Germany buys gas stations and retail parks for €86mn

29/10/2018 Summit Germany is taking over a portfolio of eight multi service centers in Germany from developer Fortress Immobilien. The purchase price is €86mn including transaction costs. Annual rental income currently comes to roughly €5.8mn. Summit quotes the yield 6.75 %, and expects rental income to increase to €6.1mn over the coming years. Fortress Immobilien built [...]

Cofinimmo buys clinic near Düsseldorf for €22mn

24/10/2018 On 23 October, Belgian real estate firm Cofinimmo signed the purchase contract for a psychiatric clinic being developed in Kaarst near Düsseldorf. The investment volume is around €22mn, which according to Cofinimmo corresponds to a gross initial yield of roughly 6 %. The clinic will have about 7,800 sqm floor space for 70 beds and [...]

Aik invests €72mn in office portfolio from Kristensen

23/10/2018 Aik is taking over three office properties in Hamburg, Düsseldorf, and Stuttgart from a closed-end fund of Danish property investment firm Kristensen Partners I, represented by Kristensen Properties. Including technical measures, aik is investing about €71.7mn in the portfolio. The Düsseldorf property is an ensemble with 10,663 sqm in two building sections of eight stories [...]

Düsseldorf: CFI builds “Airport Office Six”

09/10/2018 CFI Concepte für Immobilien of Wiesbaden is developing a new office building on Klaus-Bungert-Straße 7 on Düsseldorf’s airport on behalf of an investor. The “Airport Office Six” will be built on a 4,401 sqm lot neighboring the two twin structures “Airport Office Four” and “Airport Office Four II”. The seven-story building has 9,163 sqm GFA. It [...]