KGAL Group has acquired additional property for its real estate special alternative investment fund (AIF). The purchase marks another investment following acquisitions in Hamburg, Berlin and Munich in recent months. The asset in question is the uniquely styled office high-rise Dusseldorf Office Center Kaistraße (DOCK) in Dusseldorf's Medienhafen.
The office building is the eighth investment for a real estate special AIF. The 16-storey high-rise boasts a central location in Dusseldorf's Medienhafen harbour area with excellent access to local public transport. The asset is fully leased-up with a diversified tenant structure. The building has a total rental space of around 10,300m² and 100 parking spaces. Its tenants include Development Partner AG, SCHÜCO and Pepe Jeans Europe.
“The purchase of the DOCK office asset is another success for our transaction team, which has in recent months successfully implemented investments in four of the Big 7 cities,” explains André Zücker, managing director real estate of KGAL Investment Management GmbH & Co. KG.
Previously, seven office and retail properties had been added to the portfolio of the real estate special AIF. Further investments in office properties, commercial buildings and retail parks are planned. The DOCK office building was sold by a German family office. 3H real estate GmbH supported the seller during the transaction process.
