Drooms Facilitates Sale of Düsseldorf Arcaden retail complex
Ownership of the Düsseldorf Arcaden shopping centre in the city’s Bilk district has changed hands. Property management firm Hines Immobilien GmbH purchased the centre from Ivanhoé Cambridge on behalf of a German real estate special fund. The fund’s identity will not be disclosed, although it is expected to retain ownership of the property for the foreseeable future. Hines acted as acquisition manager for the transaction and will also assume asset management. The vendor was represented exclusively by CBRE while Allen & Overy, PwC and Valteq all provided consultancy services. Meanwhile, the purchaser was advised by Berwin Leighton Paisner, EY and ChandlerKBS. The transaction was financed by ING. Düsseldorf Arcaden was built in 2008 and has in excess of 38,000 m² of retail space available. The building is home to 110 retailers, as well as 829 parking spaces and 17 apartments across a total area of 2,200m2.
Drooms provided the data room for the transaction, while a skilled service team was on hand to provide support. Jan Dziomba, Director of CBRE GmbH, representing the vendor, was particularly impressed by the additional services offered alongside the administration of documents: “Having individual support made the process quick and efficient.”
The Drooms software solution has assisted thousands of complex transactions such as real estate sales, mergers & acquisitions and IPOs. Drooms ensures these transactions are secure, transparent and efficient. As the leading European provider of secure cloud solutions, the total value of transactions so far facilitated by Drooms amounts to more than EUR 200 billion.
The high-speed, real-time document display streamlines complex due diligence processes. Furthermore, a number of additional tools and services ensure a seamless and efficient workflow. For example, the Q&A management platform establishes a structured question-and-answer process supported by dedicated project managers. External third party access to sensitive documents can be controlled with detailed permissions administration at group and document level. All data room activity is documented in order to meet security and compliance requirements.