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Real I.S. sells properties to Art-Invest and La Francaise in Leipzig and Essen

Real I.S. has sold two office properties in Leipzig and Essen, thus liquidating the corresponding funds. In Leipzig, the „Listhaus“, one of the largest office buildings in the city, was sold to Art-Invest Real Estate. In Essen, the corporate headquarters of the Steag energy group was sold to La Francaise. The parties have agreed to keep the purchase prices confidential.

Art-Invest makes a purchase in Leipzig
Art-Invest Real Estate has acquired the Listhaus near Leipzig Central Station for a fund to be added to its portfolio over the long term. „The acquisition of the high-quality Listhaus office building gives us an excellent entry into the dynamic Leipzig office market. The property offers attractive value development potential which we intend to realize in the coming years,“ says Lena Brühne, Partner at Art-Invest Real Estate and Branch Manager in Berlin. The seller is the closed-end fund „Bayernfonds Leipzig Friedrich-List-Haus“ of Real I.S., which will be dissolved upon sale of the property.

The six-storey building complex at Friedrich-List-Platz 1 has approx. 34,500 m² of office and retail space, the remaining 4,500 m² of rental space is comprised of 97 residential units. The property also includes 456 underground and outdoor parking spaces. A long-term renovation project is planned for the building.

JLL Jones Lang LaSalle, CMS Hasche Sigle and Arcadis advised Art-Invest Real Estate. Real I.S. was advised by Arnecke Sibeth Dabelstein Rechtsanwälte Steuerberater Partnergesellschaft mbB.

La Francaise makes a purchase in Essen
La Francaise Group, on behalf of a La Française collective real estate investment vehicle, has acquired an office building in the prime office location of Rüttenscheider Straße in Essen. The seller is the closed-end “DB Real Estate CityInvest Berlin, Düsseldorf, Essen” fund, which was launched in 2004. The fund was invested in a total of three properties. The properties in Berlin and Düsseldorf were sold back in 2015 and 2016.

“The office building in Rüttenscheider Straße was the fund’s last property to be sold. Thanks to our active asset management we were able to renew the rental agreement with our tenant on a long-term basis. This has enabled us to create upside potential for our investors,” says Jochen Schenk, Chief Executive Officer of Real I.S. AG.

The office building is let to energy company Steag. © BNP Paribas Real Estate
The approx. 22,500 sqm property, located at Rüttenscheider Straße 1-3, has a total of 343 underground and outdoor parking spaces and is fully let to the power generation company Steag, which renewed its lease agreement for 10 years last fall. The eight storey building is listed and was designed by the architect Egon Eiermann. The asset, built in 1960 and renovated in 1994, is ideally situated at the intersection of Rüttenscheider Strasse and Hohenzollernring.

Jens Goettler, Managing Director for Germany at La Française Real Estate Partners International, said: “Beyond the architectural qualities of the construction itself, its prime location in Essen, which is home to three DAX corporations and the local economic growth being experienced, should all contribute to supporting sustainable tenant demand.”

BNP Paribas Real Estate and Görg Partnerschaft von Rechtsanwälten mbB advised Real I.S. The buyer was advised by Clifford Chance LLP and TA Europe GmbH.