Sign up for free newsletter


Shopping bags

German public pension group acquires Düsseldorf residential and shopping complex

Bayerische Architektenversorgung architects' pension scheme has acquired the Dieterich Karree residential/retail complex in Düsseldorf's Pempelfort district for around EUR70million.

The scheme is one of 12 pension schemes operated by Bayerische Versorgungskammer, Germany's largest public pension fund.
The vendor is the CCP III DK Germany Holding fund, which is advised by property management company Tristan Capital Partners.
A joint team from CMS Hasche Sigle (Germany) and CMS deBacker (Luxembourg) headed by lead partner Sebastian Orthmann advised Bayerische Architektenversorgung on all legal aspects of the acquisition.
The Dieterich Karee complex has 18,300 square metres of residential space and 11,300 square metres of retail space, as well as a 660-space underground car park. The building is 95 per cent occupied. It was originally owned by real estate investor Ignatz Bubis before passing to the lenders on the complex after his death in 1999. Tristan subsequently acquired the property through a foreclosure process.

from our other sites

AFH acquires Bay Financial

Tue 21/02/2017 - 09:14

KKR to acquire Telxius stake

Tue 21/02/2017 - 09:08

Vistra establishes presence in Monaco

Tue 21/02/2017 - 08:55

1 day 12 hours from now - Vienna
6 days 1 hour from now - New York
1 week 12 hours from now - Hong Kong
1 week 12 hours from now - Frankfurt
Tue, 07/03/2017   - London
Sun, 19/03/2017   - London
Mon, 20/03/2017   - London
IKONIC Fund Services Ltd.
Tue, 29/11/2016 - 11:28
Backstop Solutions Group
Tue, 08/11/2016 - 17:44
The Gemini Companies
Mon, 17/10/2016 - 11:51
other gfm publications