Aberdeen Asset Management has acquired nine buildings with 155 rental apartments to be built in Düsseldorf’s Le Flair urban quarter development project.
Aberdeen Asset Management has acquired nine buildings with 155 rental apartments to be built in Düsseldorf’s Le Flair urban quarter development project.
Developers Hochtief Projektentwicklung and Interboden Innovative Lebenswelten announced the sale to an Aberdeen fund on Thursday, but did not reveal the price.
The transaction relates to phase 4 of Le Flair. The three to six-storey buildings will provide 12,300 m2 of residential space and below-ground parking. Construction is due to start in September this year with completion by mid-2017.
