Düsseldorf Single Family Office Acquires Office Property

Düsseldorf Single Family Office Acquires Office Property

Black Horse Investments GmbH, a single family office from Düsseldorf, acquired the “KAP 2 / New Fashion Plaza” office building (also in Düsseldorf) from Hadar GmbH in a joint-venture.

“New Fashion Plaza” office building in Düsseldorf

The “New Fashion Plaza” is an office building created in 1974 and refurbished in 2009. The property has an occupancy rate of 75% and a total lettable area in the amount of 6,400 sqm. Today, the building is mainly used as a retail shipping center. The building is located at the Kennedydamm, only a few minutes from the well-known Rheinpark. Real estate firm BGA Invest connected seller and buyer of the object. The “New Fashion Plaza” was sold by Berlin-based Hadar GmbH.

Joint-venture of real estate investor and single family office from Düsseldorf

A joint-venture of Kriton Immobilien GmbH and Black Horse Investments is buying the office building. The joint-venture wants to refurbish and restructure the building. For instance, a multi-tenant will be made possible. Black Horse Investments is the single family office of the Düsseldorf-based Schwarz-Schütte family. The family office is also owning the well-known Dreischeibenhaus. Patrick Schwarz-Schütte led the pharmaceutical company “Schwarz Pharma” to an IPO in 1995. He finally sold his shares to Belgian chemical company UCB for €2.6BN.

Picture source: Diri
Source: Konii, 30.06.2020

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