Dieterich Karree is a 38,000 m2 mixed-use property comprising a convenience retail floor and more than 280 residential units in Düsseldorf. The convenience retail space on the ground floor covers 11,430 m2 and offers 660 underground parking spaces.
The asset was purchased in an off-market transaction from Bayerische Versorgungskammer (BVK) for more than €100 million. Dieterich Karree is an excellent example of the type of property that plays to Redevco’s skills and expertise while allowing the company to grow its exposure to residential assets in attractive urban areas. Redevco is working on a major refurbishment programme including sustainability and energy-efficiency improvements in the coming years.
Constructed in 1978 and refurbished in 2013, Dieterich Karree is located in Düsseldorf-Pempelfort, a very popular residential neighbourhood very close to the city centre with many small-scale shops, cafés, bars and restaurants.
The retail section has anchor supermarket tenants Edeka, Aldi Süd, pharmacy dm-drogerie markt, and shoe store Deichmann which direct footfall into the mall’s rear area where other convenience stores and a number of F&B concepts are located.
The residential units were designed to attract a broad target group and are split over 10 residential blocks. The residential blocks are located on the first floor around a green and quiet courtyard.
Mixed-use / residential
+ 100 million EUR