CLS Holdings has exchanged contracts to acquire a portfolio of three office buildings in Germany for €89.7 million ($109 million), excluding costs, from Commodus Real Estate.
The three properties are occupied by 31 tenants, and the buildings are currently 93 percent occupied.
Hansaallee 299, located in Dusseldorf, is a modern building which was developed in 2004. It is the largest property in the portfolio, comprising 16,622 square meters (178,918 square feet) of space and 252 parking spaces. It is located in the Seestern district and sits opposite Loerick underground station. The building has excellent connectivity with access to Dusseldorf Central Station in 20 minutes and the airport in 30 minutes.
Storkower Strasse 132, located in Berlin, was comprehensively refurbished in 2020 and is situated between Prenzlauer Berg and Friedrichshain in the east of Berlin, in one of the most popular and fastest-growing districts. The building has 6,105 square meters (65,
