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Press Release

GEG acquires Business Campus am Park (BCP) in Düsseldorf

Frankfurt, 12.09.2017

GEG German Estate Group AG, Frankfurt, today announced the acquisition of the “Business Campus am Park” (BCP) office property at Werdener Strasse 10, Düsseldorf, comprising approximately 21,000 m² of rental space, from CETUS Immobilien GmbH & Co. KG, Düsseldorf as part of an off-market transaction. The parties have agreed not to disclose the purchase price. The sole tenant is the international audit firm PricewaterhauseCoopers GmbH (PwC), which employs 1,700 people at its Düsseldorf site and holds a long-term lease.

BCP, a modern, representative office building, marries high-quality construction with timeless architecture. It enjoys a central location in the city of Düsseldorf, just one subway station away from the main train station, making it quick to reach using public or private transportation. Numerous developments in the immediate vicinity such as the Landesunfallkasse (Accident Insurance Fund) developed by Kölbl Kruse, the 435-room hotel developed by Citigrove, plus over 1,000 apartments in “Living Central” and “FlinCarré” enhance the value of the location, just as the neighboring public park does.

The building has nine upper floors and three lower floors with a total of 291 underground parking spaces. The multi-purpose office space provides individual single and double offices for concentrated work along with open-plan solutions for team-based work. The archive and utility rooms are located at the center of the wing on the park side and the tower. The ninth upper floor is a conference floor. On the ground floor, there are additional centrally located meeting rooms just off the entrance hall. The staff cafeteria is also located on the ground floor.

The law firm HauckSchuchardt, Hessische Landesbank, and CBRE were involved in the transaction in an advisory capacity.

Ulrich Höller, Chief Executive Officer of GEG: “BCP is an outstanding addition to our portfolio in the Institutional Business division, characterized by four key features: prime location, first-class tenant, top-quality construction, and long-term lease.”

GEG German Estate Group AG, Frankfurt:

Based in Frankfurt am Main, GEG German Estate Group AG has positioned itself as one of Germany's leading investment and asset management platforms in the commercial real estate sector. Its investment focus and investment policy concentrate on three segments: institutional business, opportunistic investments, and property developments. Within the framework of this clearly defined strategy, GEG has consistently exploited its opportunities ever since it was founded in 2015, building up an extensive, diversified real estate portfolio with just under EUR 1.9 billion in assets under management today. In addition to landmark properties like the IBC Campus office complex and the Villa Kennedy luxury hotel in Frankfurt, these include the Sapporobogen office building in Munich, property developments like the MainTor urban quarter and the Global Tower in Frankfurt, Opera Offices in Hamburg, and Junges Quartier Obersendling complex in Munich. A long-term track record and the outstanding reputation of the management along with an experienced team of highly qualified professionals serve as foundation for a leading position in the market. The two shareholders of GEG German Estate Group AG are the Frankfurt-based Deutsche Immobilien Chancen group and KKR Kohlberg Kravis & Roberts, a globally leading investor with commitments in asset classes like private equity, infrastructure and real estate. Chairman of GEG's management board is Ulrich Höller.

For more details on GEG, please go to www.geg.de.

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