Tishman Speyer, a global owner, operator and developer of first class real estate, has completed the purchase of the office complex, Koenigsallee 45-55 / Breite Strasse 20-34, from an affiliate of The Blackstone Group.
Located in the heart of Dusseldorf's Banking district, the 41,600 m² (NLA - gif) complex comprises seven buildings. These provide frontage to the exclusive Koenigsallee and Breite Strasse and cover an entire city block. The property serves as the regional headquarters of Deutsche Bank, who will remain in occupancy of most of the property under a long-term lease. Other tenants include Egon Zehnder, Eurohypo AG, and the French Consulate.
Details of the transaction were not disclosed.
This acquisition represents the ninth major investment in Germany for Tishman Speyer since 1988, involving properties with value in excess of 2.2 billon.
CB Richard Ellis GmbH was the exclusive advisor to Blackstone in the sale of Koenigsallee 45-55 / Breite Strasse 20-34. They were assisted in the local market by Trombello Koelbel Immobilienconsulting. Freshfields, one of the leading international financial legal firms, was the legal advisor to Blackstone. Tishman Speyer was advised by Clifford Chance.
Source: Tishman Speyer