Leipzig-based investment manager Publity has acquired an office asset in the Rurh area of Germany for more than €20 mln.
The four-storey core-plus property is located at Luxemburger Allee 4-8 in the Saarn district of Mülheim an der Ruhr.
Built in three 5-floor components between 1995 and 1997, the complex comprises 16,600 m2 of office space and 253 parking places.
Mülheim is a city in North Rhine-Westphalia and is part of the Rhine-Ruhr Metropol region. The city borders directly on Duisburg and Essen.
Savills, in conjunction with Ruhr-based real estate firm Cubion, advised during the transaction process.
'With its outstanding fit-out quality, 100% occupancy and established anchor tenants, this office property represents an optimal investment to complement Publity's existing assets under management,' said Stefan Mellies, director of investment for Savills in Düsseldorf.
Publity has over €3 bn of real estate assets under management in Germany.
