Hines Pan-European Core Fund (HECF), an investment vehicle of international real estate firm Hines, today announced the sale of office property Metropolitan in the central business district of Dusseldorf to R+V Versicherungsgruppe. The asset has been in HECF’s portfolio since 2011 and offers around 7,000 sqm of fully let office space on seven floors. The anchor tenant is patent and law firm Cohausz & Florack. The parties agreed to keep the purchase price confidential.
Completed in 2003, Metropolitan is particularly impressive because of its location in the immediate neighbourhood of Dusseldorf Schauspielhaus on Gustav-Gründgens-Platz. The property is characterised by timeless and top-quality architecture, which leads to a high recognition value of the building. The tenants appreciate the individually adapted floor plans, which allow for different space sizes and usage concepts.
Source : Company