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HIH Invest Real Estate just acquired a mixed-use property of offices and doctors’ surgeries in the inner city of Mönchengladbach via an asset deal. It was sold by the German company Jordan Grundbesitz GmbH. The property, which is located at the corner of Viersener Strasse and Kaiserstrasse and was built in 2013, represents a fully occupied multi-tenant building with a total lettable area of about 5,040 square metres, thereof about 4,280 square metres of office space, 510 metres of doctors’ surgery space, and 250 square metres of archive and storage area. Main tenant is the law firm of Kapellmann und Partner, one of Germany’s leading providers of legal services, which occupies more than 90 percent of the lettable area. There is also a doctor’s surgery on the premises. In addition, the “Kapellmann Office Building” (“KOB”) features an underground car park with 84 parking spots and several EV charging stations. The property was certified for the DGNB “Silver” sustainability standard and was acquired for the portfolio of the “Deutschland Selektiv Immobilien Invest II” fund.
“With the KOB property, we managed to secure yet another attractive investment in the Rhine-Ruhr metro region, the largest conurbation in Germany,” said Daniel Asmus, Senior Transaction Manager Germany at HIH Invest. “The KOB is defined by high alternative use potential, because two circulation cores and cavity flooring create the option to partition the lettable area into bespoke units. Moreover, a stable cash flow is ensured by the fact that the building is fully occupied by two high-net-worth tenants.”
The building is located in the centre of Mönchengladbach and benefits from excellent public transportation access while also conveniently reached by car. The central railway station is roughly a ten-minute walk away, and the nearest bus stop is located directly across the street. Also within walking distance lies Mönchengladbach’s prime high-street pitch along Hindenburgstrasse, the “minto” shopping centre and a number of restaurants.
Mönchengladbach is characterised by a diversified economic structure of mid-market companies. The city has a population of more than 260,000 and is optimally connected to the German motorway network and less than an hour away from two international airports. Formerly an industrial town, Mönchengladbach has evolved into a services-dominated city and generates strong demand for office real estate.
Image rights and Source : HIH Invest Real Estate