Barings, one of the world’s largest diversified real estate investment managers, has acquired Medienzentrum, a 15,700 square metres office building in the MedienHafen (media harbour) district of Düsseldorf, on behalf of a pan-European core strategy. The seller is Blue Colibri Capital Partners Fund II SCA, a Luxembourg-based SICAV-SIF. The parties agreed not to disclose the purchase price.
The property located at Zollhof 11-14 / Kaistrasse 7-8 offers more than 12,000 square metres office space, along with Event and F&B accommodation. It also features a number of terraces overlooking the harbour, as well as 337 parking lots in the underground car park. The atrium benefits from abundant natural lighting. The eight-storey asset was built in 1995 and has since been refurbished to provide modern, attractive office space. Tenants include the Culture Office of the City of Düsseldorf, Wacom, a specialist for digital ink, as well as software company, Infor and advertising distributor, Seven.One Media.
Medienzentrum is located in the MedienHafen district. Since the 1980s, the former industrial harbour has been transformed into one of the most sought-after office and residential locations in Düsseldorf. Occupiers benefit from its world-famous architectural highlights, including the Gehry Buildings, as well as a substantial F&B offer and excellent connectivity via the Franziusstrasse tram station and Völklinger Strasse local train station.
Source: barings.com on the 8th November