Hamburg, December 21, 2020. German project developer Becken has contractually secured the sale of its Wiesbaden office project development "Lincoln Offices II" to a special fund of DIC Asset AG as part of a forward deal. Around 18,000 square metres of total lettable space will be built on the approximately 13,000 square metre site at Abraham-Lincoln-Park 3 by summer 2022. The property has been leased to the State of Hesse on a long-term basis for 25 years.

Dominik Tenhumberg, Managing Director of Becken Development, says: "We are delighted that we have now been able to sell our third project development to DIC Asset AG as part of a forward deal. Particularly in these times, this is testament to a trusting working relationship and the quality of the project as an attractive investment."

Joachim Schmidt-Mertens, Managing Director of Becken Development, adds: "Around 1.5 years before completion and in the middle of the second lockdown of the Corona pandemic, we have managed to successfully place our second project in Wiesbaden. An important factor for the success of the property is the issue of sustainability in project development, which is also an important prerequisite of ESG-compliant investments. In this way, we are creating properties that meet the requirements of modern office properties in the long term." Designed by the architectural firm Structurelab, the seven-storey office building provides space for around 730 employees and has around 370 car parking spaces. On the seller side, the transaction was accompanied by BNP Paribas Real Estate and CBRE GmbH. WALCH RITTBERG NAGEL from Hamburg acted as legal advisors.