A fund managed by JP Morgan Asset Management and German property investor Indigo Invest has purchased an office property in Düsseldorf from owner-occupier Uniper for a deal volume believed to be in the €100 mln range.
The property at E.On Platz 1 comprises some 21,000 m2 of lettable space. Uniper, a subsidiary of energy firm E.On, was split off from the parent company in 2014. The Düsseldorf office was previously the E.On company headquarters.
Uniper will continue to occupy the building before it moves to new premises in Düsseldorf's Mediahafen in 2018, upon which the asset will be relet.
The deal represents the eighth transaction in Germany for the fund managed by JP Morgan AM. To date, the fund has invested in Berlin, Munich, Cologne, Hannover and Stuttgart and manages a portfolio of around 350,000 m2 across Europe.
Clifford Chance, Deloitte, CBRE Valteq and JLL advised JP Morgan AM and Indigo Invest.
Savills and Hogan Lovells advised Uniper.
