Düsseldorf/Munich—Global law firm Dentons has advised BNP Paribas Real Estate Investment Management on the sale of the Media Tower in Düsseldorf. The buyer is Frankfurt-based investment firm Conren Land, which specializes in office property. The parties agreed not to disclose the purchase price.

The 18-storey tower in Düsseldorf’s Mediahafen has a total rentable space of 8.000 sqm. The object was acquired in 2016 for the Real Value Fund, which BNP Paribas REIM co-manages together with Cording. With its manage-to-core approach, the fund was able to successfully reposition the property on the market and reduce the office vacancy rate of the tower by over 50 percent.

A Dentons team from Düsseldorf and Munich advised BNP Paribas REIM on the transaction. The client relationship with BNP Paribas was established through partner Dr. Dominik Thomer, who joined the newly established Düsseldorf office in June 2019.

Advisors BNP Paribas REIM:

Dentons (Düsseldorf/Munich): Dr. Dominik Thomer (Lead Partner), David Zafra Carollo (Partner, both Düsseldorf), René Dubois (Partner), Jessica Vorster (Senior Associate, both Munich), Alexander Mühleisen (Düsseldorf), Laura Appell (all Senior Associate, Berlin), all Real Estate, Dr. Jan Dworog (Associate, Tax), Elisa Eisold (Associate, Corporate), Léna Feldle von Schickfus und Neudorff (Transaction Lawyer, Corporate), both Munich.

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