IVG Immobilien AG invests €58 million in Düsseldorf (DE)

At the end of 2004, IVG Immobilien AG has invested a total of €58 million in the acquisition of two business parks in the greater Düsseldorf area.

After the completion of extension work, the Fleher Brücke business park in Neuss now has 30,000 m² of logistics and 10,500 m² of office space, of which 28,000 m² has already been completed and is almost fully occupied. Also acquired in 2004, the Zapp-Platz 1 logistics property in Ratingen offers 25,000 m² of rental space, including 4,500 m² of office space, and is now fully occupied by long-term tenants.

'With their attractive locations and their quality suitable to the market, these new properties strengthen the IVG portfolio of the Düsseldorf branch. Given the recovery in the real estate letting market, we feel that there are good opportunities for increasing property values at the medium term', commented Bernd Kottmann, Director of Portfolio Management at IVG, justifying the latest acquisitions by the European real estate company.

Source: IVG

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