First property for PATRoffice comes from Düsseldorf (DE/LU)

The investment company Immo Croissance SICAV IMMOBILIÈRE has sold its only property located in Germany, the office building at Münsterstrasse 359 in Düsseldorf. The purchaser, PATRoffice GmbH & Co. KG, has thus already acquired its first property just a few weeks after its foundation. The purchase price amounted to around €5 million. Colliers Trombello Kölbel Immobilienconsulting GmbH acted as sole consultants and estate agents for Immo Croissance.

The office building in the Düsseldorf district Derendorf, completed in the year 1990, offers around 4,000 m² of net space spread over six levels. The main tenant is the international insurance group ARAG. An interesting architectural feature of the property is that the V-shaped floor layout is reflected in the facade design.

Immo Croissance SICAV IMMOBILIÈRE is a property investment company with variable capital under Luxembourg law and has its seat in Luxembourg. Founded in the year 1988 the company offers private and institutional investors the possibility of investing capital in a broadly spread portfolio specializing in high-quality properties. With the sale of the Düsseldorf property the company reinforces its strategic return to concentration on the Luxembourg market.

PATRoffice GmbH & Co. KG is a joint co-investment of PATRIZIA Immobilien AG, the Stichting Pensionsfonds ABP from the Netherlands and ATP Real Estate from Denmark. The total volume of investment of up to €700 million is to be invested mainly in German commercial properties. Besides its share in the equity capital holding in this co-investment PATRIZIA will take over the purchasing and the asset management for the whole portfolio.

Source: Colliers

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