IXIS AEW Europe acquires Handelsblatt Headquarters (DE)

The Doughty Hanson & Co European Real Estate Fund I has sold the Handelsblatt Headquarters in Düsseldorf to IXIS AEW Europe. The purchase price amounts over €40 million. IXIS AEW Europe was advised on the transaction by Colliers Trombello Kölbel Immobilienconsulting GmbH.

The Handelsblatt Headquarters is classified amongst the most prominent office buildings in Düsseldorf. Completed in 1982 on behalf of the publishing group it accommodates Handelsblatt since than. The property offers more than 9,900 m² of office space and is situated in the Düsseldorf sub-market "Bankenviertel" representing one of the class A locations in the North Rhine-Westphalia capital.

The Doughty Hanson & Co European Real Estate Fund I started investing in 2000. The pan-European real estate fund concentrates on investments in eight European countries. This is the 12th realisation out of a total of 21 investments. With the proceeds of this sale, investors in that Fund will have received cumulative distributions of more than 143% of cash invested by the Fund, representing an overall return of 3.1 times the Fund's cash investment and a gross IRR of 41%.

IXIS AEW Europe is a leading European real estate investment manager focusing on the creation, execution and management of discretionary investment vehicles, separate account strategies and strategic portfolio advisory services to both institutional investors and private clients. IXIS AEW Europe, headquartered in Paris, is a subsidiary of IXIS AEW Management Group, which is owned by Group Caisee d'Epargne and Caisse des Dépôts.

Source: Colliers

Related News