Clifford Chance has advised BNP Paribas Real Estate Investment Management (REIM) Germany on the acquisition of an historical office building in Düsseldorf on behalf of an investor from the Middle East.

The building on Breite Strasse was purchased for a very substantial eight-figure sum. The property is held by a Luxembourg company and is fully let. BNP Paribas REIM Germany is also responsible for the ongoing asset management of the property.

The property is centrally located between Benrather Strasse and Kasernenstrasse in Düsseldorf's banking district, opposite Königsallee. The historic property, with an impressive, listed façade, comprises a total lettable area of about 19,000 sqm. Since its original completion in 1912 and subsequent completion in 1924, the building has undergone several thorough modernisations and today offers excellent technical specifications.

The Clifford Chance team was led by partner Dr. Gerold Jaeger (Real Estate, Frankfurt) and comprised partner Dr. Uwe Schimmelschmidt (Frankfurt) und counsel Dr. Dominik Thomer (Düsseldorf, both Tax), associates Philipp Schott (Frankfurt) und Alexander Shemyakin (Düsseldorf, both Real Estate) as well as partner Tobias Schulten, senior associates Tanja Gropp and Melissa Staunton and associate Matthias Kammermann (all Banking & Capital Markets, Frankfurt). Lawyers from the Luxembourg office of Clifford Chance also worked on the deal.