Noerr advises on sale of landmark Düsseldorf property RWI4

Noerr has advised the owners on the sale of its landmark Düsseldorf office complex: Assetando Real Estate GmbH, an Ernst Russ Group company, has sold the RWI4 building owned by the RWI 25 Fund to an international real estate investor as part of an international, structured sales process.

The purchase price is in the low three-digit million range and guarantees the fund shareholders a total capital return on their investment of around 750 per cent. RWI4 was built in 1974 and with its two towers has total usable space of about 47,000m². Besides the main tenant, an energy sector company, RWI4 is let to around 20 other reputable companies. Assetando, the entity operating as the central real estate unit of Ernst Russ AG, manages real estate assets worth approximately €1.6bn with total floor space of around 680,000m².

Noerr advised the client on the sale with a Düsseldorf Real Estate Investment Group (REIG) team. Noerr offers a unique spectrum of advice services with its REIG, which is headed by Alexander Goepfert and Annette Pospich. The practice group has more than 60 experts in all disciplines relevant for the real estate business and with its interdisciplinary approach has continuously increased its market share in recent years.

Advisors to RWI 25 Fonds: Noerr LLP

Christoph Brenzinger, Professor Alexander Goepfert, David Zafra-Carollo, Stephanie Meyer, Alexander Mühleisen (all Real Estate/REIG, Düsseldorf)