45,000 m² GFA residential and commercial area planned
Nexus Investment GmbH, an experienced project developer based in Düsseldorf, has signed a purchase agreement with the Adler Group for the approx. 4,550 m² project site in Mercedesstraße in Düsseldorf-Mörsenbroich, previously known as the "Upper Nord Tower". The transaction was brokered by Aengevelt Immobilien. McDermott Will & Emery advised Adler Group on the sale of the Upper Nord Tower project under the leadership of Dr Alexa Ningelgen and Dr Ulrich Flege.
Nexus is planning the construction of a building ensemble on the site under the name "Phoenix Tower" with a height of around 120 metres and a total of around 45,000 m² GFA o.i. Of this, approx. 26,000 m² GFA for approx. 400 residential units are planned, as well as a hotel or boarding house with approx. 128 rooms and a daycare centre. The total investment volume is in the three-digit million euro range.
Thanks to the comprehensive planning preparations by the Adler Group in close, extremely constructive coordination with the state capital of Düsseldorf, construction can start in 2025, depending on the further approval process.
"After we acquired the property known as the "Ando Tower" in Mörsenbroich in August last year, we were looking for another project opportunity at the location. The Adler Group site brokered for us by Aengevelt fits perfectly into our strategy, as it is located in the immediate vicinity of the Ando Tower and offers us the realisation of an attractive mix of uses," explains Murat Beyazyüz, Managing Director of Nexus Investment GmbH, and adds: "We will not only build the tallest residential building in Düsseldorf at this sought-after location, which is extremely well connected to the city and beyond, but also implement the highest standards of quality and sustainability."
"Nexus Investment GmbH was our first choice for this challenging project, as it is not only already involved in the area, but as a successful and experienced acquirer it has the necessary knowledge and experience as well as the appropriate capital resources," explains Oliver Lederer, Head of the Investment & Development team at Aengevelt in Düsseldorf.
"Düsseldorf is a top location for investments, as shown by the current sale of the area at Mörsenbroicher-Ei, known as the 'Upper North Tower'. This is where the long-awaited concrete development of a central plot of land in the state capital can begin. My thanks go to the traditional Düsseldorf real estate agent Aengevelt, who has succeeded in finding a buyer for the area. The envisaged mix of uses of Nexus Investment GmbH takes into account the urgently needed living space and provides the infrastructure for residents and overnight guests alike. We support a quick start to the project of the 'Phoenix Tower'," says Lord Mayor Dr. Stephan Keller.
