Investment manager IMAXXAM has sold the office building at Antoinettenstraße 33 in Dessau. The property previously formed part of the portfolio of the separate asset fund "Property Invest Germany". The purchaser is a regionally established owner-occupier who ranks among the most prominent local landlords.
Built in 1994, the property is structurally integrated into the Fürst-Leopold-Carré. It comprises a lettable area of around 2,670 square metres on a plot of 809 square metres. The property also includes eleven parking spaces.
Occupancy structure and portfolio context
The occupancy rate of the commercial property currently stands at around 75 per cent. Established tenants in the building include the insurance group Allianz and the health insurance fund AOK. IMAXXAM acquired the property in 2019 as part of a larger acquisition package for the fund.
The disposal of the property is linked to a modified investment strategy for the fund, which the portfolio at the time no longer suited. Simon van Zoggel, Head of Transaction at IMAXXAM, emphasised that the sale consistently advances the strategic direction of the separate asset fund. The portfolio is continuously reviewed to ensure it aligns with the long-term objectives of the fund.
Central location and transaction advisory
The location is characterised by its central integration within the city of Dessau. Various dining and shopping options are available in the immediate vicinity. Dessau central station can be reached within a five-minute walk, while the Antoinettenstraße bus stop is about a one-minute walk away. Connections to the regional and national transport network are provided via the B184 and B185 federal highways as well as the A9 motorway.
IMAXXAM was legally advised on the execution of the transaction by the commercial law firm LPA Law. Tax advice was provided by the partnership Schiedermair Rechtsanwälte.
