Art-Invest Real Estate acquires Living Office in Düsseldorf from Schroders Capital

Art-Invest Real Estate has announced the acquisition of the Living Office, a multi-tenant commercial property in Düsseldorf-Derendorf, from Schroders Capital’s specialist fund. The transaction was finalized on 31 August 2024, with the property comprising 20,000 square meters of rental space and a two-storey underground car park with nearly 380 spaces.

Located at the intersection of Rather Straße 110a and Derendorfer Allee 33 in the Unternehmerstadt business district, the Living Office is a versatile complex consisting of two building sections. It features a mix of modern office spaces, gastronomy, and fitness facilities, offering tenants a flexible and urban working environment. Part of the building dates back to 1916 and was extensively renovated in 2004, while a newer extension was added in 2009.

Art-Invest Real Estate plans to reposition the property as a sustainable, multi-tenant office complex through its manage-to-core and manage-to-sustainability strategy. The company will implement upgrades to enhance the building’s functional and ecological sustainability, making it an attractive long-term location for businesses across various sectors.

“With the purchase of Living Office, we are further expanding our portfolio in Düsseldorf and continuing our focus on future-oriented, sustainable real estate projects. We see significant potential in the development of this property and look forward to repositioning it in the market,” said Arne Hilbert, Managing Director at Art-Invest Real Estate.

Details of the purchase price remain undisclosed. Legal counsel for Art-Invest Real Estate was provided by Noerr Partnerschaftsgesellschaft, with technical advisory from WITTE Projektmanagement. Schroders Capital received legal guidance from GSK Stockmann, while BNP Paribas Real Estate acted as the broker for the transaction.