Union Investment has acquired the multi-tenant H19 building in Düsseldorf for its UniImmo: Deutschland open-ended real estate fund from a Luxembourg-based company. Located at Hammer Strasse 19, the property was completed in 2003.
Union Investment was advised by Hogan Lovells in Hamburg on legal aspects of the deal; the vendor was advised by law firm King & Spalding of Frankfurt. Real estate advisor Savills Düsseldorf brokered the transaction.
H19 enjoys an exceptional location in the 'Media Harbour' area with access from both Hammer Strasse and Zollhof. The micro-location benefits from a very good infrastructure and is well supplied with local facilities for what is still a relatively new development.
H19 is established in the market, with superb construction quality, high space efficiency and attractive architecture. The property is fully let and has an excellent tenant structure featuring financially sound tenants from a range of sectors.
Union Investment holds 15 properties in the Düsseldorf area worth a total of some EUR 591 million and is interested in making further investments in Düsseldorf.
Source: Union Investment