The 11,000 m2 Hollestraße 7b building is part of the Holle-Karree scheme in Essen.

Real IS sold the property on behalf of its Bayernfonds Essen Holle-Karree retail fund to a subsidiary of the Koerfer-Gruppe based in Cologne. 

The parties have agreed to keep the purchase price confidential.

'After renewing the lease, we took advantage of the favourable market phase and successfully sold the property in Essen,' said Real IS board member Brigitte Walter. The strategic sale of the property is likely to generate an overall return of around 138% for the investors, she added.

The 15-storey office building is fully rented and has an underground car park with a total of 117 parking spaces as well as 20 parking spaces outdoors. The Holle-Karree was built in 1995 and is located within walking distance of Essen's central station and pedestrian zone.

Brockhoff Invest Essen advised Real IS under an exclusive sales mandate. Legal support for the seller was provided by the law firm Luther Rechtsanwaltsgesellschaft.

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28 November 2018

Outlook 2018: Europe & Germany Investment Briefing

UBS - Opern Turm, Bockenheimer Landstraße 2-4, Frankfurt am Main, 60306, Germany | 09:00 - 11:30

This event is brought to you by Waterway Investments in association with PropertyEU.

Economic growth is lifting all boats in Europe, but Germany's position as the economic powerhouse of Europe remains assured.

Following recent elections, Germany still does not have a government. Is there any political risk out there? Is Europe's largest residential sector still attractive? What about fast-growing alternative sectors like student housing and micro housing? 

Come to this time-efficient briefing, hear market experts answer these and other questions, and get to ask your own questions. 

Registration is complimentary but places are strictly limited. Please register now to guarantee your place