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Press Release

GEG invests EUR 140 million in two properties in Düsseldorf and Mainz

Frankfurt, 18.02.2019

  • Acquisition in Düsseldorf: Property KAP 1 from Bayerische Versorgungskammer
  • Acquisition in Mainz: Property Deutsche Bahn from KGAL


GEG German Estate Group AG, Frankfurt am Main, has acquired two further properties: the Karl-Arnold-Platz 1 (KAP1) property in Dusseldorf for its “GEG Deutschland Value I” Manage-to-Core Fund from Bayerische Versorgungskammer, Munich. The second building is situated in Mainz’s old town on the banks of the Rhine (Rheinstrasse 2) and is currently completely let to Deutsche Bahn. It was acquired from a fund managed by KGAL GmbH & Co. KG, based in Grünwald near Munich for its “GEG Public Infrastructure I” Fund. The total investment volume of both properties thus amounts to approximately
€140 million.

About the KAP1 property
This striking building with its large glass atrium in Dusseldorf's most dynamic submarket, Kennedydamm, has a total rental space of approx. 9,500 sqm, of which around 70 per cent is currently let. The area is divided into eight upper storeys and four lower storeys. The rental space includes almost 7,000 sqm of office space, around 2,500 sqm of showroom space, plus storage space and 186 underground parking spaces.

The building was planned in 2003 by pinkarchitektur (an architect's office that has received several awards for sustainable construction) and impresses above all with three quality features: an excellent geographical location between the city centre and the airport, an outstanding layout, and very good divisibility (from as little as 450 sqm). With office tenants (such as renowned management consultancies) and showrooms of prestigious fashion designers, the tenant mix is typical for the area.

In order to create added value and achieve full occupancy, one of GEG’s first tasks will be to remarket the building, giving it a fresh identity. As a result, it will bear the name “CABO” in the future.

CMS Hasche Sigle and Drees&Sommer advised GEG with the transaction. CBRE brokered the transaction. The special fund is administered by Hansainvest Hanseatische Investment-GmbH, in the capacity of Investment Management Company  ("Service-KVG").
 
About the “Deutsche Bahn” property in Mainz
The office property is situated in the heart of Mainz’s city centre, on the banks of the river Rhine. The five-floor building boasts both excellent visibility and ideal accessibility. Built in 1998 and comprehensively modernised during the years 2016 to 2018, the property has over 31,000 sqm. of flexible and modern rental space, and 178 parking spaces. It is completely let to Deutsche Bahn AG, on a long-term lease. The German railway operator has located administrative units there, as well as their staff canteen and the sublet Restaurant “Citrus” in the “Bastion  Franziskus” annexe, a building of historic significance.

BNP Paribas (broker), CMS Hasche Sigle, Frankfurt (legal advisor to the buyer), DLA Piper Frankfurt (legal advisor to the seller) and CBRE PREUSS VALTEQ (technical advisor to the buyer) acted as advisors for the transaction.

Both funds are administered by Service-KVG Hansainvest Hanseatische Investment GmbH. Dr. Heiko Jäkel (BHP notary's office in Frankfurt) certified the two transactions.

About GEG German Estate Group AG:
Based in Frankfurt/Main, GEG German Estate Group AG maintains one of the leading German investment and asset management platforms for commercial real estate. Its investment focus and policy are concentrated on three segments: Institutional Business, Opportunistic Investments, and Project Development. Since its establishment in 2015, and within the framework of this clearly-defined strategy, GEG has consistently pursued opportunities to build an extensive and diversified real estate portfolio, comprising approximately €3.2 billion in assets under management, distributed over the whole of Germany.

Besides landmark properties such as the IBC Campus, luxury hotel Villa Kennedy and the Japan Centre in Frankfurt/Main, the portfolio comprises the Sapporo Circle in Munich, as well as developments such as the MainTor city quarter, the Global Tower and the RIVERPARK Tower in Frankfurt, along with the Opera Offices in Hamburg and the "Junges Quartier Obersendling" development in Munich.

The long-standing track record and outstanding reputation of senior management, together with a highly qualified and experienced team, provide the foundation for a leading market position. The two shareholders of GEG German Estate Group AG are Frankfurt-based TTL Group as well as KKR Kohlberg Kravis & Roberts, a leading global investment house with exposure to asset classes such as private equity, infrastructure, as well as real estate. Ulrich Höller is Chairman of GEG's Management  Board.

More detailed information about GEG is available on www.geg.de.

About Bayerische Versorgungskammer (BVK)
As Germany's largest public pension group, Bayerische Versorgungskammer is a service and competence centre for occupational and municipal pension provision. It conducts the business of twelve legally independent professional and municipal pension schemes, with a total of just under 2.3 million insured persons and beneficiaries, approx. €4.8 billion annual premium and levy income and approx. €3.4 billion annual pension payments. In total, it manages an investment volume of currently approx. €77 billion (book value) for all institutions. BVK employs over 1,300 people and has been a signatory to the German Diversity Charta ("Charta der Vielfalt") since 2010, a signatory to the UN Principles for Responsible Investment (PRI) since 2011 and a signatory to the Memorandum für Frauen in Führung (an initiative for women in leading positions) since February 2017.

More detailed information about BVK is available on www.versorgungskammer.de.


Media contacts
Thomas Pfaff Communications
Höchlstrasse 2
81675 Munich
T: +49 89 99249650
M: +49 172 8312923
kontakt@pfaff-kommunikation.de

Dr Maike Kolbeck
Media Officer
Denninger Strasse 37
81925 Munich, Germany
T: +49 89 9235-8069
presse@versorgungskammer.de



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