Silverton, Europi buy office building in Dusseldorf

Silverton, Europi buy office building in Dusseldorf
Picture Source: Marvin Hillebrand, Düsseldorf

A joint venture between Europi Property Group and Silverton Group has acquired the Silizium, an office building in Dusseldorf, from an investment vehicle managed by Amundi Real Estate.

Silizium is located in Hansaallee 205 in the north of Dusseldorf, the capital of North Rhine-Westphalia. It is one of the most attractive and modern office buildings in this submarket, on the left bank of the Rhine.

Centrally situated, with excellent transport links, it provides around 15,400 square metres of office space, which is fully occupied by an international company as its European headquarters. The building, constructed in 2014 on an approx. 7,000 square metre site, enjoys DGNB Silver certification.

Sebastian Steinert, Silverton authorised signatory and Regional Head of North Rhine-Westphalia, comments: “By purchasing Silizium, we have succeeded in acquiring a premium property in an attractive and gentrifying Dusseldorf submarket, shortly after the establishment of the joint venture. From an ESG point of view, a very important factor for us was that the building already has DGNB Silver certification and we aim to achieve an increase to a DGNB Gold standard by implementing appropriate measures.”

Jonathan Willen, CEO of Europi, adds: “We’re delighted to acquire our first asset in Germany with Silverton, as part of a wider strategy to grow a portfolio of Grade A offices in Germany’s top cities. Silizium meets modern occupier requirements and has a good environmental footprint, which we look forward to improving further under our stewardship. Our joint venture with Silverton is actively seeking similar opportunities to grow the portfolio.”

The joint venture was established in late 2021, with the objective of assembling a portfolio of high-quality office properties, with a gross asset value (GAV) of at least EUR 200 million, over the next twelve months. It will focus on prime modern office properties that both offer potential for value enhancement through active asset management and satisfy the requirements of their future occupiers, including best-in-class ESG standards.

The acquisitions will concentrate on properties in and around the seven largest German cities, as well as select ‘B’ cities with growth potential. The target lot size of the properties to be acquired is between EUR 20 and 80 million.

The sale was supported by local management partner IC Asset Management.