Real I.S. AG has acquired the multi-tenant office building Pandion Francis in Düsseldorf’s city centre from the Cologne-based project developer Pandion.
The parties have agreed not to disclose the purchase price.
The office building was completed in 2021 and is located at Immermannstrasse 20 on the site of the former Franciscan monastery.
It has a total area of more than 5,400 square metres – roughly divided between 5,100 square metres of office space and 300 square metres of catering facilities – on a total of fourteen floors. There are also 58 underground parking spaces for tenants. The new building was designed by the renowned Cologne-based architects Römer Kögeler and Partners.
”As a business location, Düsseldorf has a reputation for excellent infrastructure. It provides unrivalled benefits for a wide range of companies. Against this background, the Pandion Francis is a perfect fit,” says Pandion Cologne Branch Manager Klaus Küppers.
”The sale marks another success for our commercial project development business in North Rhine-Westphalia.”
”The Pandion Francis is a modern office building that offers flexible business premises in an outstanding location right in the centre of Düsseldorf. As such, it is an ideal match for the rest of our portfolio,” says Axel Schulz, Global Head of Investment at Real I.S. AG.
The group acquired the property for the open-ended specialised alternative investment fund (AIF) BGV VIII, which is aimed at institutional investors.