Trivua Kapitalverwaltungsgesellschaft mbH (Triuva) is acquiring the Silberkuhlsturm project development from the Essen-based project developer Kölbl Kruse for an individual RAG-Stiftung mandate that it manages. The transaction has a volume of over €40m.
The office property which will be situated in Essen’s well-established Gruga-Carree office market will be completed end of 2017. Essen’s office market is considered one of the most attractive investment markets outside the top seven due to its low vacancy rates, the stable level of rent and the high agglomeration of blue-chip tenants. DGNB Gold certification is targeted for property. There is a long-term lease agreement for the office space of around 10,500m² with ista International GmbH, a leading company in the field of metering services and energy efficiency improvements in the building sector. The office building includes an underground car park with almost 120 parking spaces and approx. 60 outdoor parking spaces. The building benefits from direct connections to local and long-distance transport via the nearby U-Bahn station and the A52 motorway.
The name Silberkuhlsturm (silver pit tower) is derived from remains of a historical edifice that was located on the site and was presumably used to store silver-bearing ore and also lead during the 14th and 15th century. The historical Silberkuhlsturm tower nowadays is regarded as an early evidence of the mining history in Essen.
BLP (Berwin Leighton Paisner Germany LLP) advised the buyer on legal and tax issues. Legal assistance for the seller was provided by Kapellmann und Partner Rechtsanwälte mbB. Technical due diligence and project monitoring are being performed by Drees & Sommer.
