AEW Ciloger, acting on behalf of the OPCI Franceurope Immo Fund, has acquired an office asset in Dortmund, Germany, from Cording Real Estate Group. The purchase price was not disclosed.
The office building, located at Semerteichstr 47-49, comprises a total lettable area of 10,000m² across six storeys. The asset was comprehensively refurbished and expanded in 2017. Strategically located in the heart of the Ruhr, the investment is underpinned by the dynamic fundamentals of one of Germany’s most populated regions.
Fully let on a 15-year lease to the German government agency in charge of providing property services to state entities (Bundesanstalt fur Immobilienaufgaben), the property will generate a stable and long-term income for the Fund.
AEW Ciloger was advised by Clifford Chance and JLL, while Cording was advised by BNP Paribas Real Estate and Herbert Smith Freehills Germany.
