Commerz Real Starts Placement of CFB Fund 173 “E-Plus Corporate Headquarters, Düsseldorf”

New office building at Düsseldorf Airport
Long-term lease with Germany’s third-largest mobile phone carrier
Investment volume of 92 million euros

Commerz Real just started sales for its latest closed-end real estate fund. CFB Fund 173 “E-Plus Corporate Headquarters, Düsseldorf” offers investors the chance to subscribe shares in the newly raised seat of Germany’s third-largest mobile phone carrier. In E-Plus, Commerz Real has found a very prestigious tenant for this building which was placed in immediate proximity of the Düsseldorf Airport.

Shares are available for a minimum subscription sum of 10,000 euros. The investment volume of CFB Fund 173 ““E-Plus Corporate Headquarters, Düsseldorf” totals 92 million euros, including an equity share of 33.7 million euros. The debt financing is taken out to 100 percent in Euro. Annual distributions are expected to range between 6.0 and 6.5 percent, and will remain tax-free through the end of 2014.

Around 30,000 square metres of usable floor space and an annexed above-surface car park with about 700 slots will be available to E-Plus at its future seat. The official opening of the new headquarters is scheduled for July.

“We are very pleased to say that we were able to negotiate a lease agreement over a ten-year term with our partner E-Plus, an agreement that also includes the option to extend the lease by two terms of five years each,” said Erich Seeger, member of the board of Commerz Real and, among other responsibilities, in charge of closed-end fund concepts and sales. “We are convinced that the above-average qualities of the location, of the property, and of the tenant will persuade our investors of the fund’s potential for success.”

With its conspicuous architecture, this office building accentuates the new “Quartier (n)” area where demand is running high. It is situated inside the established “North Düsseldorf/Airport” submarket. The location is moreover characterised by a wide variety of traffic connections, its proximity to the airport terminals and the airport train station (within walking distance) as well as by the above-average quality of the infrastructure.

source : Commerz Real