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

by   CIJ News iDesk III
2024-09-26   19:52
/uploads/posts/5502dad80b48b6f8001f7bd90e76be658fc84b4b/images/347016399.jpg /uploads/posts/5502dad80b48b6f8001f7bd90e76be658fc84b4b/images/347016400.jpg

Art-Invest Real Estate has announced the acquisition of the Living Office, a 20,000-square-meter multi-tenant commercial property in Düsseldorf’s Derendorf district, from Schroders Capital. The property, located at the intersection of Rather Straße and Derendorfer Allee, also includes a two-storey underground garage with nearly 380 parking spaces. The handover of the property was completed on August 31, 2024.

Living Office consists of two sections: one part dating back to 1916 and renovated in 2004, while a modern extension was added in 2009. The building offers a mix of office spaces, restaurants, and fitness facilities in a central yet peaceful urban setting. Art-Invest plans to enhance the property’s functional and ecological sustainability, positioning it as a prime location for tenants from diverse sectors under its manage-to-core and manage-to-sustainability strategy.

“We see great potential in further developing this location and are excited to reposition the property in the coming years,” said Arne Hilbert, Managing Director at Art-Invest Real Estate.

The transaction was brokered by BNP Paribas Real Estate, with legal and technical counsel provided by Noerr Partnerschaftsgesellschaft and WITTE Projektmanagement for Art-Invest, and GSK Stockmann for Schroders Capital. The purchase price remains undisclosed.

Art-Invest Real Estate, founded in 2010, manages real estate assets worth approximately €12.5 billion across Germany, Austria, the UK, and Sweden.

Switzerland
Albania
Asia
Austria
Belgium
Bosnia & Herzegovina
Bulgaria
Central Europe
China
Croatia
Czech Republic
Denmark
Estonia
Finland
France
Germany
Greece
Spain
Hungary
India
Italy
Kosovo
Latvia
Lithuania
Luxembourg
Moldova
Montenegro
Netherland
North Macedonia
Norway
Poland
Portugal
Romania
Russia
Serbia
Slovakia
Slovenia
Sweden
Ukraine
United Kingdom
USA