Europa Fund II announces further lettings at Hofgarten Palais, Düsseldorf
Monday, May, 18, 2009
Europa Capital LLP, the general partner of Europa Fund II, is pleased to announce the letting of 1,891m2 to Gleiss Lutz Rechtsanwalte at Hofgarten Palais, the prime 13,150m2 office development at Bleichstrasse/Goltsteinstrasse, Düsseldorf owned through its Luxembourg subsidiaries. The building is nearing completion and already 57% leased.
Gleiss Lutz has signed a 10 year lease for 1,891m2 on part third and fourth floors. The law firm which already has offices in Berlin, Frankfurt, Munich, Stuttgart and Brussels, will be opening for business in Düsseldorf in August 2009. Gleiss Lutz provides comprehensive advice in all areas of national and international commercial law and recently won the PLC Which Lawyer? Award “Law Firm of the Year Germany”.
Gleiss Lutz join Management Engineers GmbH & Co KG, who are already in occupation of 5,234m2 and Catella Property Advisers GmbH who recently signed for 398m2 and move in later this month.
The freehold project is in central Düsseldorf, adjacent to the Hofgarten, the City’s central park, approximately 100 metres from Schadowstrasse, one of the city’s strongest retail streets and within easy walking distance of the renowned Königsallee. The development comprises 13,150m2 of air-conditioned offices on ground and six upper levels and 2,100m2 residential condominium accommodation. Ten apartments overlooking the Hofgarten have been constructed in the two buildings at No. 15/16 and No. 17 Goltsteinstrasse and are being offered for sale with either turn-key fit-out or shell & core for buyers’ own interior designs. No.18 Goltsteinstrasse meanwhile is a four storey town-house, a rarity this close to the city centre and all its amenities. Three of the apartments and the townhouse are already under contract.
Commenting, Erik Ruane, development director at Europa Capital, said, “We are delighted that Gleiss Lutz has selected Hofgarten Palais for its new Düsseldorf branch. The building is particularly well-suited to professional firms and is well located for easy access to the amenities of the City centre for the benefit of the staff.”
Dr. Bernhard Busch, Partner of Gleiss Lutz, said: “Now that the location issue is settled, we look forward to focussing on establishing our local presence in Düsseldorf. The team will be led by several leading lawyers relocating from other Gleiss Lutz offices together with some new faces joining the firm. The office branch will continue the firm’s focus on its areas of strength in serving our wide client base.”
Development management of the project is by PBG Frankfurt which has co-operated with the Europa Funds on a number of previous projects in Germany. PBG’s managing director Christoph Gutmann, added: “PBG has been active in Düsseldorf for some years now and is pleased to be bringing this remarkable project towards a successful completion.”
For further information/photographs, please contact:
Gordon Simpson, Finsbury PR +44 20 7251 3801
Erik Ruane, Europa Capital Partners +44 20 7881 6800
Christoph Gutmann, PBG +49 69 710 442200
Notes to editors:
About Europa Capital
Europa Capital is an independent real estate fund management group operating from offices across Europe. Since 1995, Europa Capital’s principals have collectively raised 6 real estate funds and committed to over 50 transactions totalling in excess of €4.7 billion across 14 European countries.
Europa Capital operates two pan-European closed ended real estate funds, which invest across the enlarged European Union countries, Norway and Switzerland. Europa Fund I has undertaken 14 transactions in Austria, Czech Republic, Germany, Spain, the Netherlands, and the United Kingdom. Europa Fund II has to date completed 24 transactions in Hungary, Poland, the Netherlands, Italy, Germany, Greece, Belgium, Slovakia, Norway, the Czech Republic and the United Kingdom. In addition, Europa Capital manages a third closed ended fund which invests in Bulgaria, Romania and certain Eastern European countries outside the European Union.
The Europa Funds benefit from Europa Capital’s network of exclusive Country Partners, who co-invest in acquisitions made by the Europa Funds in their territory. Many of the Country Partners have worked closely with the Principals of Europa Capital during the last 20 years. Further information can be found at www.europacapital.com.
Europa Capital Partners Ltd and Europa Capital LLP are regulated by the Financial Services Authority.
For further press information please contact:
Finsbury PR on +44 (0) 20 7251 3801
