Optimum Asset Management has acquired a 1,636-square-meter (17,609-square-foot) commercial building in Düsseldorf, Germany, in an off-market acquisition.
The building is located near one of the main commercial arteries of Düsseldorf with excellent access to public infrastructures (metro and central station). The eight-story building is entirely dedicated to office use.
Optimum acquired the asset through its German Real Estate Fund IV (GREF IV), the fourth iteration in a series of strong-performing German real estate funds pursuing both residential and commercial properties in the range of €5 million to €40 million ($5.2 million to $41 million).
With a target size of €600 million ($623 million), GREV IV seeks to add value by optimizing mispriced and mismanaged residential and commercial assets near major infrastructure and employment hubs. The primary target area is Berlin, with selected investments in high-growth, supply-constrained cities such as Hambur
