AEW Ciloger acquires Dortmund office asset from Cording12 July 2018
AEW Ciloger announces that it has acquired, on behalf of the OPCI Franceurope Immo Fund (the 'Fund'), an office asset in Dortmund, Germany, from Cording Real Estate Group ('Cording'), acting on behalf of its LQG Landmark Partnership. The transaction is the first acquisition in Germany for the Fund and reflects AEW Ciloger's ability to secure and complete high-quality transactions in a competitive German market.
Fully let on a 15 year lease to the German government agency in charge of providing property services to state entities (Bundesanstalt für Immobilienaufgaben), the property will generate a stable and long term income for the Fund.
Franceurope Immo is an OPCI (Fund) dedicated to private clients (SPPICAV) that aims to provide a regular distribution of revenue from a portfolio of long term, buy to hold investments. The diversified portfolio comprises both direct property investments (60-65%) and investments in financial instruments (30-35%).
AEW Ciloger was advised for this transaction by Clifford Chance and Jones Lang LaSalle, while Cording was advised by BNP Paribas Real Estate and Herbert Smith Freehills Germany.