AEW has completed the acquisition of Vertikum, a multi-let mixed-use building in Dusseldorf's city centre on behalf of a separate account mandate for a German institutional investor. The seller is a joint venture between CONVALOR and Freundlieb.
Completed at the end of September 2023, Vertikum offers c. 3,700m2 of modern office space which is fully let with a WALT of 8 years to a diverse mix of occupiers including a consultancy firm, a law firm and an innovative technology company. The retail space on the ground floor is rented by Minotti.
The building received the BREEAM Very Good certification upon completion and offers amenities including 45 bicycle storage spaces and charging stations for e-bikes. The asset is also connected to the district heating network, providing an efficient and environmentally friendly energy source.
Vertikum is located next to Konigsallee, the shopping centre Schadow-Arkaden and the Ministry of Justice. Situated next to the Steinstrasse underground station and the tram, the asset provides excellent access to the public transport network, as well as the shops on Konigsallee.
Matthieu Samaran, Investment Manager Germany at AEW, commented: “Vertikum is a unique core investment opportunity in a sought-after location in Düsseldorf's city centre. The asset has been designed to an excellent standard and is producing a sustainable income in line with the mandate’s strategy. This is our third acquisition in the German office space this year as we continue to see value in well-located properties which meet the requirements of our clients.”
AEW was advised by Hogan Lovells, Nova Ambiente and Drees & Sommer. The seller was supported by ROTTHEGE and Anteon.
Image provided by FTI Consulting. PC: AEW.
