Schroder Real Estate Kapitalverwaltungsgesellschaft (KVG), a business unit of Schroders Capital, has sold the Märkisches Quartier, an office complex in a central Dortmund city centre location, to the City of Dortmund. The City of Dortmund was already the largest tenant of the property and will now become the owner of the asset through this transaction.
The Märkisches Quartier is situated in Dortmund's administrative district, in close proximity to the city centre. The property comprises three detached buildings with a total rental area of approximately 22,900 square metres. The occupancy rate of the property is around 98 percent, signifying almost full utilisation. Approximately 72 percent of the tenants are public sector entities, including the City of Dortmund as the main tenant and the State of North Rhine-Westphalia. The remaining tenant share consists of various private users.
The buildings of Märkisches Quartier are characterised by modern and flexible office spaces. Furthermore, the location benefits from excellent public transport links, with the nearest underground station just a few metres away. The property includes approximately 400 parking spaces, which feature charging infrastructure for electric mobility. The asset has been continuously adapted and modernised in recent years to meet current requirements.
With the acquisition of Märkisches Quartier, the City of Dortmund secures a central administrative location in its city centre for the long term. This acquisition aligns with the city's strategy to increasingly consolidate departments into municipal office properties. For Schroder Real Estate, this transaction was advised by Colliers and Mayer Brown.
Nils Heetmeyer, Managing Director of Schroder Real Estate KVG mbH, stated that the transaction aligns with the company's investment strategy to achieve an attractive exit after successfully implementing the business plan. He described the sale as a consistent and sensible solution and concluded by noting that successful transactions are achievable even in a challenging market environment, provided certain conditions are met.
