Essen: Real I.S. sells office property to La Française


Real I.S. has disposed of the office property “Rüttenscheider Strasse 1-3” in Essen from the closed-end real estate fund “DB Real Estate CityInvest Berlin, Düsseldorf, Essen”. The buyer is La Française Real Estate Partners International on behalf of a collective real estate investment vehicle of La Française. The parties have agreed not to disclose the purchase price. Real I.S. had acquired the property in 2004 for €41mn. The listed building was designed by Egon Eiermann. It has around 22,500 sqm and 343 underground and outdoor parking spaces. It is fully let to the energy provider Steag, which renewed its tenancy early with a ten-year lease last year. BNP Paribas Real Estate advised Real I.S. As part of an exclusive sales mandate. Hamburg law firm Görg Rechtsanwälte advised in legal matters; the buyer was advised in legal and tax matters by Clifford Chance LLP, and in technical matters from TA Europe.

TD Premium

Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.

TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.