CLS Holdings sells Essen office asset for €60m

CLS Holdings (CLS) has announced the unconditional sale of The Brix, an office building in Essen spanning 21,797 m2, for €60 mln.

The Brix, Essen

This sale price matches its valuation as of 31 December 2025, and the transaction is expected to finalize in the second quarter of 2026.

The Brix is situated in Essen's central business district, conveniently close to Essen Hauptbahnhof (main train station), offering excellent access to public transportation and major roads throughout the Ruhr area.

CLS acquired the property in April 2021 when it had a 28% vacancy rate. Since then, CLS has undertaken a complete renovation and secured a new 30-year lease with the City of Essen, which has occupied the building since October 2025. These efforts have transformed The Brix into a high-quality, sustainable office building that now generates stable, long-term income.

The funds generated from this sale will be used to reduce CLS's debt.

Fredrik Widlund, CEO of CLS, said: “Following completion of the lease and refurbishment, we consider this the right time to crystallise the value of our investment through a disposal, improving the geographical focus of our German portfolio and reducing debt. The transformation of the building demonstrates our commitment to active asset management and to delivering high-quality, sustainable offices that meet the needs of long-term occupiers.”