Leverkusen, 02.02.2021 – Cube Real Estate has acquired the B8 Center in Düsseldorf’s Flingern district from Gold Tree, represented by Montano Asset Management, initially for its own real estate portfolio. The retail park on the centrally located 22,500 square meter site on Erkrather Straße / Werdener Straße has almost 23,000 square meters of leased retail, entertainment and restaurant space. The parties have agreed not to disclose the purchase price.

As the new owner, Cube Real Estate will initially take over the asset management for the B8 Center itself and continue to manage the property as a retail park that is currently fully let. The Leverkusen-based project developer is also examining the further development of the property with a view to the adjacent neighboring property, which it also owns. Cube Real Estate is developing Cube Central 378, a mixed-use urban quarter on a 6,000 square meter site, in a workshop process in which the ideas and interests of the neighbourhood are being cooperatively incorporated into the planning.

“A regional focus of our business is clearly on Düsseldorf. We are currently realizing five projects in central locations in the state capital and want to further strengthen our commitment here. To this end, we are currently in further concrete acquisition processes,” explains Jean-Marc Fey, Head of Acquisitions & Sales at Cube Real Estate.

With the acquisition of the B8 Center retail park into its own real estate portfolio, Cube Real Estate is pursuing a strategy launched in 2019. “This gives us the opportunity to leverage additional value creation potential. In doing so, we are focusing in particular on locations for which we expect strong positive development in the coming years and decades and can examine further development with calm and a time lag. However, the core business of Cube Real Estate will continue to be the development of apartments as well as neighborhood and building land development,” says Tilman Gartmeier, explaining the current acquisition.

The following were involved in the successful transaction: RheinWert Immobilien (broker), Commerzbank (financing bank) and the law firms Noerr and Loschelder.