Europa Capital has acquired a complex of two properties from Munich-based KanAm Group, the ‘Cubus’ office building and the INNSIDE by Melia Hotel in Düsseldorf, Germany.
The properties were built in 2001 and are located in the heart of Seestern, the established business district of western Düsseldorf, west of the Rhine River and a 10-minute drive from the city center. Seestern is one of Düsseldorf’s largest and most established service provider quarters.
The architecturally-striking Cubus office building, comprising 16,800 m² of offices over 12 levels, is constructed as a glass cube with four glazed facades and an impressive atrium. Adecco Group Deutschland, the world’s largest personnel and executive recruitment company, is the principal occupier, while smaller occupiers include Blackberry Deutschland, easyApotheke Holding, and Söffing und Partner.
The INNSIDE by Melia Hotel has 126 modern rooms and is part of Melia Hotels International’s Premium Hotels chain. INNSIDE is the fastest growing brand within the Melia Group.
Europa Capital has completed the acquisition in cooperation with P•B•G mbH, who has been engaged as asset manager on both assets. Europa Capital and P•B•G have worked together since 1999 and have successfully realized over €400 million of asset sales together in Germany. The transaction was introduced by ANTEON, who has been appointed as leasing agent for the Cubus office building.
Michael Abel, of Europa Capital, commented: “We are pleased to have completed this transaction; the investment conforms to Europa Capital’s strategy of acquiring prime assets which provide scope for active management and value enhancement. The hotel offers stabilized income with a strong tenant covenant, and the office, which has superior specification, represents a strong leasing opportunity. Germany will continue to constitute an important part of Europa Capital’s value-add business.”
Source: RLM Finsbury