Montano Asset Management has acquired a modern, fully-let office building in Ratingen near Dusseldorf for a German institutional investor. The vendor is Barmenia Krankenversicherung AG. Montano received the investment instructions from a professional pension fund in May 2020. It comprises an amount in the lower three-digit million Euro range. The investment objectives are Core-plus and Core office properties in prime locations in Germany's top 7 cities and in selected 'B' locations. The property, at Kokkolastrasse 1 in eastern Ratingen, has a total lettable area of some 5,300m². It is close to the Ratingen-Ost S-Bahn station. The tenants are top covenants, including a UK-based British IT service provider. The purchase price was not disclosed.
Ramin Rabeian, Managing Partner of Montano, commented: "We are confident that we have made a sustainable investment for a professional pension fund. From our company's perspective, it demonstrates not only our market competence but, in particular, that our active management approach is also highly regarded by national investors. We anticipate that active management becomes increasingly important in the future."