' News

• The property is located on a plot of around 11,000 square meters and has around 20,000 square meters of rented commercial space
  
• Project developer plans construction measures and examines building extension of around 8,000 square meters
  
• Structured selection process for the new investor was organized by BGA Invest

Düsseldorf / Munich. The real estate company Becken, a specialist in the development, realization and long-term asset and investment management of commercial and residential properties, has acquired an office property in Düsseldorf. The property on the corner of Luisenstrasse and Helmholtzstrasse is the former headquarters of the city's public utility company; the current main tenant is the Düsseldorf Jobcenter. The property has around 11,000 square meters of land and around 20,000 rented square meters of office and commercial space. The property also has 163 parking spaces and 51 parking spaces in an underground garage. The seller is a family office from Lower Saxony, which acquired the property in 2010. The parties agreed not to disclose the purchase price. The real estate transaction was brokered by BGA Invest.

Project developer Becken is planning extensive construction measures for the acquired property. For example, additional rental space is to be created for existing tenants from next year. There will also be further renovation and refurbishment measures, such as for communal areas. "In addition, the construction of an extension with a gross floor area of up to 8,000 square meters is being examined, for which planning permission already exists," explains Stefan Spilker, Managing Director of Becken Holding. "We are convinced that this property in a prime location in the center of Düsseldorf has further development potential. This will not only benefit the tenants, but also the area around Düsseldorf's main railway station."

The previous owner had already carried out extensive refurbishment and maintenance work in recent years, increasing the occupancy rate to almost 100 percent.

Pedestrian area instead of traffic chaos at the main station

The location of the Jobcenter property has become increasingly attractive since the decision was made to build three international hotels on the neighboring site. By 2020/2021, an Adina, a Hampton by Hilton and a Premier Inn with more than 700 rooms will be built there, as well as an underground parking garage with around 240 parking spaces. The city of Düsseldorf and Deutsche Bahn have also agreed to redesign the area. A traffic-calmed pedestrian area is to be created between Konrad-Adenauer-Platz and Mintropplatz. "This will also significantly improve the location quality of the office building in Luisenstrasse," explains Stefan Spilker.

BGA Invest finds the right partners nationwide

The real estate transaction was arranged by the Munich-based company BGA Invest. The consulting firm uses transparent, structured processes to find suitable institutional investors for real estate. "Thanks to our investor database and structured process, we can find the right partner for even the most specialized investments throughout Germany," explains Hendrik Hofmann, Head of Investment at BGA Invest. The network of potential investors ranges from property developers - as in the case of the Düsseldorf project - to banks, family offices and foundations. BGA Invest works closely with major family offices in particular, which are playing an increasingly important role in the real estate market both as buyers and sellers.