AEW has acquired the extensively renovated “Wiesbadener Palais”, in the city centre of the Hessian state capital, on behalf of a German pension fund. The flagship office building, comprising 4,700 sqm and 53 parking spaces, is being acquired from NORSK Deutschland AG andIFM Immobilien AG.
The five-story building, with anchor tenants the Hessian Ministry for Digital Strategy and Development and HRA Pharma Deutschland, has recently been refurbished to a high, modern standard. Once the Ministry has taken occupation at the start of 2020, the office space will be fully let.
Built in 1907, the building embodies the historical heart of the KURECK site with its magnificent architecture and its listed façade, and is located in the immediate vicinity of the Hessian State Chancellery. On the site of the former head office of R+V-Versicherung, the KURECK comprises a total of 14 buildings with the construction of over 40,000 sqm of contemporary residential and commercial space, including an Adina Hotel and an exclusive residential tower with 22 floors. The overall project is to be completed by 2022.
AEW is one of the world’s largest real estate asset managers, with €68.2bn of assets under management as at 30 June 2019. AEW has over 700 employees, with its main offices located in Boston, London, Paris and Hong Kong and offers a wide range of real estate investment products including comingled funds, separate accounts and securities mandates across the full spectrum of investment strategies. AEW represents the real estate asset management platform of Natixis Investment Managers, one of the largest asset managers in the world.
As at 30 June 2019, AEW managed near €31.9bn of real estate assets in Europe on behalf of a number of funds and separate accounts. AEW has over 400 employees based in 9 offices across Europe and has a long track record of successfully implementing Core, Value-Add and Opportunistic investment strategies on behalf of its clients. In the last five years, AEW has invested and divested a total volume of over €20bn of real estate across European markets.
Source : Company