Aroundtown completes prolongation in office asset with a public sector institution in Essen

As a result of the focus on tenant satisfaction and efficient asset management, Aroundtown successfully prolonged the lease agreement with a strong tenant from the public sector, the Essener Systemhaus (ESH), in the office property located within walking distance from Essen’s central train station, for an area of over 5,000 sqm resulting in a lease length of approx. 9 years.

The appr. 5k sqm office property is located in Essen (NRW), next to the A40 highway, which runs from Dortmund to Antwerp. The main central train station is in walking distance from the property. The property on Kruppstrasse 82, 45145 Essen, further includes parking facilities and lies across a subway station. The surrounding district is home to a variety of companies mainly active in the tech and communication sectors.

About Aroundtown

Aroundtown invests in income generating quality properties that have potential for value-add in central locations mainly in Germany and the Netherlands. Avisco (controlled by Yakir Gabay) holds 10% in Aroundtown followed by Blackrock at 5%. Other shareholders includse Norges, Vanguard, Allianz, BNP Paribas, Japan’s Government investment fund, Aliance-Bernstein, Dekabank, State-Street, Bank of Montreal and many other leading international investors. The main bond investors include ECB, GIC, Union Investment, DB, UBS, CS, M&G, Pictet, Credit Agricole and many other major institutional investors.