L’Etoile invests in “Seestern” quarter

Düsseldorf: L’Etoile invests in “Seestern” quarter

Frankfurt am Main, 17 July 2017 – A joint venture led by L’Etoile Properties has acquired the multi-tenant property “QiDUS” in Düsseldorf’s office quarter “Seestern” as part of an off-market transaction. The seller is a joint venture of the London investment firm Revcap and asset manager Kriton Immobilien of Munich.

The building on Emanuel-Leutze-Straße 8 has roughly 19,000 sqm lettable office space. Anchor tenants are the dentist’s association Zahnärztekammer Nordrhein, health education group Weber-Schule gGmbH, and health insurer AOK Rheinland/Hamburg. Revcap/Kriton had bought the property, which was built in 1975 under the name “Aureum”, in 2013, intending to modernize and resell it. The purchase price at the time was in the middle double-digit millions.

The corporate law firm of Norton Rose Fulbright LLP advised on the current transaction. The Buyer was advised by the internationally recognized real estate team of Clifford Chance.

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