Dortmund: Cording buys Deutsche Bank building on Hiltropwall
Cording Real Estate has acquired the office complex Hiltropwall 16 in Dortmund in a club deal. The seller is Deutsche Bank PGK AG, who sold the property in line with its 2017 real estate strategy. Built in 1993, the property on Cityring has 25,000 sqm and 376 parking spaces. The bank, which has been occupying a large portion of the building, intends to lease back about half of the space long term. BNP Paribas Real Estate brokered the transaction. Legal advice was provided to the seller by Luther law offices, Clifford Chance advised the buyer. Hamburg Commercial Bank, formerly HSH Nordbank, financed for Cording.
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