The sales proceeds from the Grade A property comes to approximately €108 million. The buyer of the office property is RREEF Investment GmbH, a member company of Deutsche Bank.

“We are selling the project in conjunction with our ongoing optimisation and a stronger regional diversification of the fund portfolio,” said Hans-Joachim Kühl, Member of the Board of Commerz Real and in charge of real estate transactions.

“On the one hand, we are also acquiring assets outside the major conurbations. On the other hand, we are seizing the chance to dispose of properties where the time for exiting sensibly matches our commitment history.”

Capital House, which has a gross lettable area of roughly 11,700 m², is situated in the City of London near the Stock Exchange and the Bank of England. Given its central location, the property offers great access to the public transportation infrastructure.

The eight-floor building features a high-quality and modern fit-out, and is fully let to several service providers.

Source: Commerz Real