DERECO Cologne has acquired the conspicuous new office scheme “DreiEins” in the new urban development area “le flair” in Düsseldorf Pempelfort as a further prestigious property for the private placement established last year on behalf of a related Dutch family office. The vendor is a project company of a joint venture between HOCHTIEF Projektentwicklung GmbH, Düsseldorf (Branch Rhein-Ruhr) and INTERBODEN Innovative Lebenswelten GmbH & Co. KG from Ratingen.

The property pre-certified with DGNB Silber will be completed in winter 2014/2015. On an estate extending over ca. 3,000 m² located directly at Franklinbrücke, around 4,300 m² of lettable space offering modern and up-market office units, gastronomy spaces as well as an underground car park with ca. 80 car parks will be created. The office spaces representing a share of 90 % in the investment have already been rented out to more than 40%. The transaction implemented via asset deal comprises a volume of ca. 15 million Euro. The purchaser was legally advised by law firm Taylor Wessing, Berlin. The corresponding technical Due Diligence was carried out by Drees & Sommer, Düsseldorf.

The private placement structured as blind pool strives for a total investment volume of ca. 90 million Euro. Currently DERECO focusses in this respect on fully-let properties in mint condition (new developments as forward deals or existing properties with an age of two to three years) with premium quality standards in the top 10 cities of Germany. Smaller but attractive cities with high purchase power and a good centrality in vicinity to top 10 cities are considered as well. Exclusive priority lies on downtown location with triple A or A rating convincing by attractive micro locations.

For the real estate funds DERECO does exclusively consider investment assets with a volume of respectively 10 to maximum 40 million Euros and the usages retail, residential and office contributing to a well-balanced portfolio. Besides properties with mere single usage, investments with mixed usage and average lease maturities of more than five years may also be considered as interesting. Single-Tenant-Investments are not provided for the investment strategies. At the moment DERECO is concretely assessing further investments.