Arminius, the private equity firm founded in 2006 by former Lone Star director Peter Jun, has acquired retail conglomerate Metro Group’s global HQ campus in Düsseldorf on behalf of unnamed German institutional investors.
Located to the east of the German city, the complex consists of six adjacent office buildings offering 75,520 m2 and a multi-storey car park with 1,300 spaces. It is fully let to Metro group on a long-term basis.
Although financial details were not disclosed, the asset is believed to be worth over €200 mln.
The vendor, Patrizia's Triuva, bought the asset back in the summer of 2014 in a €200 mln sale-and-leaseback deal. Metro agreed at the time to lease back the site under a new 15-year term.
JLL and Rheinwert Immobilienconsulting advised on the sale.
Christian Molter, co-founder of Arminius Group, commented: 'This transaction represents a further important step in implementing our strategy of focusing on investments in German commercial real estate with German institutional partners.'
Since inception in 2006, Arminius has completed over €4.8 bn of transactions.
Metro Group has occupied the site since 2004, having invested around €100 mln in its construction.
