Montano has acquired an office complex with a lettable area of around 9,800m², directly adjoining Dusseldorf central railway station. MEAG, asset manager of Munich Re and ERGO, is acting on behalf of the vendor. The purchase price was not disclosed.
Ramin Rabeian, Managing Partner of Montano Asset Management, said: "Montano is specifically looking for attractive properties in the most important German markets. In furtherance of this strategy, we are pleased to announce the acquisition of the property in Dusseldorf. The building is in an excellent location, directly adjoining the central railway station, in an established Dusseldorf submarket that has a very low vacancy rate and has developed very positively."
The main tenant in the property, at Willi-Becker-Allee 10, is the City of Dusseldorf education authority. The building also houses the consulates of the USA and the United Kingdom. The accommodation is fully let on long-term leases. The office complex also includes around 230 parking spaces in the multi-storey car park of Dusseldorf central railway station, which are rented from Deutsche Bahn, among others.
