Wednesday, August 09, 2006

German Publisher Handelsblatt HQ Sold For €40 million.

Doughty Hanson Web Site - August 8, 2006

Doughty Hanson & Co Real Estate today announces the sale of the Handelsblatt Headquarters to IXIS AEW Europe, the European real estate manager, for more than €40 million.

This transaction completes the sale of all of the assets in the Holtzbrinck Portfolio and will generate a 2.8x return on the investment. The Holtzbrinck Portfolio was acquired from German publishing group Georg von Holtzbrinck in January 2003.

Completed in 1982 on behalf of Handelsblatt, the publishing group which it has since accommodated, the property offers more than 9,900 sq m of office space and is situated in the Düsseldorf sub-market “Bankenviertel”, representing one of the class A locations in the North -Rhine-Westphalia capital.

The Holtzbrinck Portfolio was the fourth transaction by the Doughty Hanson & Co Real Estate I in the Solutions for Corporates programme. The Solutions for Corporates programme aims to create value for corporates by exploiting under-utilised company-owned property or partnering with corporates to solve complex property or occupational issues. Sphere: Related Content

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