AEW is buying the Schiessstraße 61 office building in Düsseldorf, Germany for an undisclosed amount.

The asset manager said it has agreed to acquire the fully occupied, multi-let office building on behalf of one of its funds. The five-storey building comprises 4,400sqm of flexible rental space.

Matthieu Samaran, executive director of investments at AEW, said: “This acquisition is aligned with the fund’s strategy of selectively investing in quality assets in good locations that offer stable returns over the long term. Schiessstraße 61 is fully-let to a diversified tenant base and therefore offers secure, long-term income.

”In addition, we were impressed by the asset’s strong location in the dynamic and emerging area of Linksrheinisch, host to a number of new residential developments, which will see it transformed into a vibrant destination for living and working.”

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