Beyond City and Montano acquire office building in Düsseldorf

Beyond City Properties has acquired another single-tenant office building in Düsseldorf, managed by German investment and asset manager Montano Real Estate.

Samson Weldemariam

This marks their sixth joint acquisition, bringing their shared portfolio to approximately €200 mln over the past two years, extending a successful decade-long partnership. Montano will continue to seek out unique opportunities in the commercial real estate sector to further expand Beyond's portfolio, with ample capital available for future acquisitions.
The acquired property, Elisé, located at Elisabethstraße 65 in Düsseldorf, was built in 2000 and extensively renovated in 2021. It offers 9,338 m2 of flexible office space, suitable for modern layouts and both single or multi-tenant use. The building is currently on a long-term lease to the City of Düsseldorf, housing its Public Order Office and Office for Building Management.
Elisé is situated in Friedrichstadt, a popular office submarket, especially for public-sector tenants. It boasts excellent public transport links, with the Kirchplatz underground station directly opposite, providing two-minute access to Düsseldorf's city centre. The Bilk S-Bahn and regional train station is also just one stop away. Düsseldorf Central Station is about a six-minute drive, and the Rheinkniebrücke offers direct access to the A52 motorway. The area's appeal is set to grow further with the ongoing redevelopment of an adjacent 32,000 m2 municipal site into a modern, pedestrian-friendly promenade by 2027, which will introduce new leisure, healthcare, dining, and retail options.
Samson Weldemariam, managing partner at Montano, said: “We are very pleased with the acquisition of Elisé, as the property meets all the criteria we look for in a strong investment. It offers a central and urban location, a long‑term lease with solvent institutional tenants, and significant value‑creation potential. We intend to unlock this potential through targeted ESG and capital improvement measures.” 
Katharina Weigl, director Debt Finance & Investment at Montano, added: “We identified Elisé as a property with an exceptionally attractive risk‑return profile for Beyond. Particularly compelling from an investor’s perspective are the long remaining lease term of 9.5 years WALT and the rents, which are 100% indexed to the consumer price index. The lease to the City of Düsseldorf ensures long‑term, attractive cash flows while keeping the risk of rental default very low.” 
Advisors on this transaction included Noerr, Cumming Group, Fair Audit, and Tauw. The project financing was arranged by Volksbank Darmstadt Mainz. The seller was legally advised by Görg, and BNP acted as broker.