AEW has purchased the Vertikum mixed-use office and retail building in Düsseldorf on behalf of a German institutional investor.
The real estate investment and asset manager said it acquired the multi-let real estate asset in Düsseldorf’s city centre from a joint venture between Convalor and Freundlieb.
Completed at the end of September 2023, Vertikum offers about 3,700sqm of modern office space and is fully let, with an average of eight years left to expiry, to a mix of occupiers including a consultancy firm, a law firm and a technology company. The retail space on the ground floor is leased by Minotti, a leading Italian contemporary furniture company.
The building received the BREEAM Very Good certification upon completion and offers amenities including 45 bicycle storage spaces and charging stations for e-bikes. The asset is also connected to the district heating network, providing an efficient and environmentally friendly energy source.
Vertikum is located next to Königsallee, the shopping centre Schadow-Arkaden and the Ministry of Justice and is next to Steinstraße underground station and the tram.
Matthieu Samaran, investment manager Germany at AEW, said: “Vertikum is a unique core investment opportunity in a sought-after location in Düsseldorf’s city centre. The asset has been designed to an excellent standard and is producing a sustainable income in line with the mandate’s strategy.
“This is our third acquisition in the German office space this year as we continue to see value in well-located properties which meet the requirements of our clients.”
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