Cording Real Estate Group, the Northern European real estate investment and asset management firm, has let 8,629m² of space in the office tower at Alleestrasse 165, Bochum, to the Federal Institute for Real Estate (BImA). The BImA provides services for federally-owned property.
The building is owned by a joint venture between Cording and other domestic and international investors. This was founded by Cording with the objective of investing around €250m in the value-add segment of the German property market over the next three years.
10 floors of the 12-storey building, the former Thyssen-Krupp Tower, will be occupied by the Federal Agency of Migration and Refugees as the central registration authority for refugees. The building, which dates from 1962, has been reconfigured accordingly.