Purchase for special real estate funds as part of an off-market deal
HIH Invest Real Estate (HIH Invest) has acquired a single-tenant office building at Wanheimer Straße 74-74a in Düsseldorf from the LANGEN Real Estate Group. The property, called TONIQ1, was purchased as part of an off-market deal for an individual mandate from an institutional investor. The new office building was completed at the end of 2023 and has a total lettable area of 13,344 square metres as well as an associated multi-storey car park with 305 parking spaces. The main tenant is the Federal Institute for Real Estate (BImA), which has rented the building on behalf of the main customs office in Düsseldorf. The previous three locations of the main customs office in Düsseldorf will now be centralised in TONIQ1. The lease has a term of 8.5 years with two extension options.
"With TONIQ1, we have succeeded in realizing a modern office building that combines the highest standards of functionality, flexibility and sustainability. The building is optimally tailored to the needs of a public tenant and at the same time offers an attractive working environment for the future. We are pleased to have found a long-term owner in HIH Invest, who appreciates the qualities of the location and the well-thought-out project development just as much as we do and will continue to pursue the potential of the property in the long term," says Alexander Kotowski, Managing Director at LANGEN Projektentwicklung GmbH & Co. KG.
Daniel Asmus, Head of Transaction Management Office Germany at HIH Invest, comments: "With TONIQ1, we have acquired a modern property with a tenant from the public sector with a strong credit rating. By leasing to the Federal Institute for Real Estate, we are securing our institutional investor stable income in the long term and a high degree of planning security. The flexible configuration of the floor plans and the high-quality furnishings also enable conversion into a multi-tenant property if required."
TONIQ1 is located in the established office and service district "Quartier(n)" at Düsseldorf Airport. The proximity to the international airport and the direct connection to the A44 and A52 motorways offers ideal conditions for the tenant. In addition, the location is very well connected to public transport - via several bus stops in the immediate vicinity and an S-Bahn station within walking distance. The property has a high-quality standard of construction with a clear ceiling height of three metres, cavity floors, external and internal sun protection, thermal insulation insulating glazing and energy-efficient air conditioning. DGNB Gold certification has already been obtained.
The purchase was financed in cooperation with Stadtsparkasse Düsseldorf. The legal and tax acquisition review was carried out by the law firm Ashurst LLP from Frankfurt am Main, while the technical and ESG due diligence was carried out by ES EnviroSustain GmbH from Berlin. Anteon Immobilien was responsible as a broker. Kapellmann Rechtsanwälte acted as an advisor to the LANGEN Real Estate Group.
