Warburg-HIH Invest sells office building in Düsseldorf

Düsseldorf, 16. December 2019 – Warburg-HIH Invest Real Estate (Warburg-HIH Invest) has sold an office building in Düsseldorf at Graf-Adolf-Platz 14 to the MOMENI Group. The office building, constructed between 1975 and 1978, has a gross floor area of around 30,000 square metres, offers 175 underground car park spaces and is currently fully leased. The primary tenant is GMG Generalmietgesellschaft, a Deutsche Telekom subsidiary. The transaction has taken place on schedule after a ten-year holding period on behalf of an investment company of Warburg-HIH Invest, which acquired the property in 2009. The parties have agreed not to disclose the purchase price.

“Our main reason for purchasing the office building ten years ago was the excellent potential for value enhancement due to the building’s prime location in Düsseldorf city centre,” said Hans-Joachim Lehmann, Managing Director at Warburg-HIH Invest. “We have capitalised on the favourable conditions on the investment market to realise the value growth we were striving for.”

BNP Paribas Real Estate assisted in identifying a buyer for the property and was also employed in an advisory capacity.

“Our main reason for purchasing the office building ten years ago was the excellent potential for value enhancement due to the building’s prime location in Düsseldorf city centre. We have capitalised on the favourable conditions on the investment market to realise the value growth we were striving for.”

Hans-Joachim Lehmann, Managing Director

Warburg-HIH Invest