La Française Real Estate Partners International acquires a prime office building(1) in Essen (Germany)
11 July 2019
La Française Real Estate Partners International, on behalf of a La Française collective real estate investment vehicle, has acquired from Real I.S. an office property located at Rüttenscheider Strasse, a prime office location in Essen, Germany.
The building was designed by renowned German architect Egon Eiermann and classified as a protected monument in 1992.
The asset, built in 1960 and refurbished in 1994, is ideally situated at the intersection of Rüttenscheider Strasse and Hohenzollernring. The eight-story building, fully let to a power generation company, offers 22,506 m2 of office space and 343 indoor and outdoor parking spaces.
Jens Goettler, Managing Director for Germany, La Française Real Estate Partners International, said: “Beyond the architectural qualities of the construction itself, its prime location in Essen, home to three DAX corporations and where the local economy is experiencing intensive growth, should contribute to supporting durably tenant demand.”
La Française Real Estate Partners International was advised by Clifford Chance LLP on legal and tax aspects and by TA Europe GmbH on technical Due Dilligence.
Photo not binding – Investment example, not indicative of future investments.
(1) This is an example of an investment held within the portfolio. It is not indicative of future investments and does not fully reflect the composition of the funds.
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