German lender BayernLB has provided a loan of EUR 26 mln to finance the purchase by Canadian listed investor Dundee REIT of the DoubleU office site in Düsseldorf.
German lender BayernLB has provided a loan of EUR 26 mln to finance the purchase by Canadian listed investor Dundee REIT of the DoubleU office site in Düsseldorf.
The asset, located on the former Rheinmetall site, comprises around 12,000 m2 of office space developed by Projektentwicklung and Rheinmetall Immobilien. Completed at the end of 2011, it is currently fully let, with the largest tenant being Group M, which has taken a 10-year lease on 5,000 m2.
The property has a silver certification from the German Sustainable Building Council, DGNB.
