Dreischeibenhaus acquired by HIH Invest-led institutional club deal

HIH Invest, together with institutional investors, has acquired the landmark Dreischeibenhaus office building in Düsseldorf through a club deal, with the Schwarz-Schütte family retaining a co-investment in the property.

The purchase price was not disclosed. The property is intended to be held for the long term.

Located in Düsseldorf’s Central Business District (CBD), the listed Dreischeibenhaus comprises approximately 32,239 square metres of leasable space and is approximately 96% occupied. The building includes around 29,800 square metres of office space, alongside restaurant, storage and archive areas and 276 parking spaces.

Completed in 1960, the building was extensively revitalised by the Schwarz-Schütte family in 2014. It holds LEED Gold certification and is almost fully let.

Tenants include Hogan Lovells, Gleiss Lutz, DLA Piper, A&O Shearman, Kearney, Jones Lang LaSalle and LGT Bank.

“With the Dreischeibenhaus, we are acquiring one of Germany’s most iconic office properties. The combination of its central location in Düsseldorf’s CBD, high-quality building, long-term leases, and a diversified tenant portfolio makes the property an attractive investment for institutional investors,” said Felix Meyen, Managing Director of HIH Invest.

He added that the property benefits from the growing focus among tenants on prime locations and premium amenities, which HIH Invest said is supporting stable demand for high-quality space in major office markets.

Patrick Schwarz-Schütte of Black Horse Properties said the Dreischeibenhaus had been part of the family’s portfolio for many years.

“With HIH Invest, we have found a long-term partner who shares the special quality and significance of this property. Through our investment, we will remain connected to the property in the future,” he said.

The Dreischeibenhaus is situated between Königsallee and Hofgarten in Düsseldorf’s CBD, which HIH Invest described as one of the city’s most attractive office submarkets, with consistently high demand for premium office space.

Ashurst LLP advised on legal and tax due diligence, while Drees & Sommer conducted technical and ESG due diligence. BNP Paribas acted as broker to the seller.