An unnamed non-European investor has acquired an 17,800 m2 telecom services centre in Dusseldorf for €50 mln, according to Catella Property which was mandated to sell the project.
An unnamed non-European investor has acquired an 17,800 m2 telecom services centre in Dusseldorf for €50 mln, according to Catella Property which was mandated to sell the project.
The turnkey project is the largest service centre in Germany to be operated by German telecommunications provider Telekom.
Catella brokered the sale of the project which is led by developer Codic and Catella. 'This project is a perfect example of when local expertise and international investment interest in Dusseldorf come together,' said Klaus Franken, head of Catella's property advisory in Germany.
The project was overseen by local developer Codic Immobilien und Projektentwicklung Beteiligungs in a joint venture with Catella Corporate Finance, which represented mainly Swedish investors. The newly developed property comprises five stories, 17,800 m2 of office premises and some 493 parking spaces.
Financing for the scheme was provided by a banking consortium comprising Stadtsparkasse Düsseldorf and Kreissparkasse Köln.
According to Guido Knümann, Telekom chose the location for the property in Böhlerstrasse / Hansaalee, as the area is one of the most attractive areas in Dusseldorf. With the Forum Kassel, which is set to be developed over the next few years, the neighbourhood will emerge as a functional mixed-use location for workplaces, living, shopping and experiences.
