The DIC Group is one of the leading investors in the German market for commercial real estate

Press Release

GEG acquires training centre of the North-Rhine Westphalia police force

Frankfurt, 27.08.2018

GEG German Estate Group AG, Frankfurt/Main, has acquired the training centre of the North-Rhine Westphalia police force, located in Neuss, from Gateway Real Estate AG. The investment is on behalf of the "GEG Public Infrastructure I" fund, and amounts to approximately €36 million. The building, which has been let to the German state of North-Rhine Westphalia under a long-term lease entered into in August 2018, is being used by the State Authority for Training, CPD and Human Resources of the North-Rhine Westphalia Police. The building was previously used as a training centre by Deutsche Telekom AG, and as a "Commundo" conference hotel.

Built in 1970, the complex comprises 12 connected single-storey buildings with an aggregate rental space of 16,300 sqm and 206 parking spaces, on a plot of 40,000 sqm. The buildings feature numerous training rooms and auditoriums, a sports hall and a restaurant. The seller has carried out extensive modernisation work so far in 2018, which is set to be completed in the next weeks.

The buyer was advised by Ashurst and Drees & Sommer; HauckSchuchardt advised the seller.

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 some €2.4 billion in assets under management. 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 Deutsche Immobilien Chancen Group ("DIC") 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 Gateway Real Estate AG:
Gateway Real Estate AG is a listed real estate company, whose objective is to build a valuable real estate portfolio. The Company focuses on the office, retail and hotel asset classes, and on properties providing stable long-term cash flows. For this purpose, Gateway Real Estate AG aims to generate sustainable value through continuous optimisation and care for the properties.
Manfred Hillenbrand is Chairman of the Management Board of Gateway Real Estate AG.

More detailed information about Gateway Real Estate AG is available on www.gateway-re.de


Media contacts:

GEG:
Thomas Pfaff Kommunikation
Höchlstraße 2
81675 Munich
Phone: +49-89-99249650
Mobile: +49-172-8312923
kontakt@pfaff-kommunikation.de

Gateway Real Estate AG:
Juliane Steen
THE SQUAIRE 13 | Am Flughafen
60549 Frankfurt
Phone: +49-69-788-088-00-10
juliane.steen@gateway-re.de

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