Developers Codic and Catella Corporate Finance have sold an 18,000 m2 development project in Düsseldorf to an unnamed overseas investor for €50 mln.
Developers Codic and Catella Corporate Finance have sold an 18,000 m2 development project in Düsseldorf to an unnamed overseas investor for €50 mln.
The property - Germany's largest Telekom service centre - was officially delivered last week and is entirely let to Telekom. It provides 18,000 m2 of offices and 493 parking spaces.
The project was financed by the Düsseldorf City Savings Bank (Stadtsparkasse Düsseldorf) in a joint venture with the Cologne District Savings Bank (Kreissparkasse Köln).
The deal comes hot on the heels of developer Ten Brinke's sale last month of a new Telekom call centre in Leipzig to Swiss real estate investor Gold Tree and the BlueRock Fund.
ITB Office Leipzig is located near the city's central train station, and houses 900 Deutsche Telekom employees.
