Real I.S. has sold 11,000 m² office in Essen, Germany, on behalf of its “Bayernfonds Essen Holle-Karree” retail fund.
The buyer of the centrally located property is Kolnische Haus- und Grundstucksverwaltung Dr. Koerfer GmbH & Co. KG, a company belonging to the Koerfer- Gruppe based in Cologne. The parties have agreed to keep the purchase price confidential.
“After renewing the lease, we took advantage of the favourable market phase and successfully sold the property in Essen,” says Brigitte Walter, member of Real I.S. AG’s Board of Management. The strategic sale of the property is likely to generate an overall return of around 138% for the investors.
The 15-storey office building is fully rented and has an underground car park with a total of 117 parking spaces as well as 20 parking spaces outdoors. The “Holle-Karree” was built in 1995 and is located within walking distance of Essen’s central station and pedestrian zone.
Real I.S. was advised by Brockhoff Invest Essen and Luther Rechtsanwaltsgesellschaft mbH.
