RWE Sells Headquarters Buildings in Essen to U.S. Property Fund
02 October 2014 - 6:05PM
Dow Jones News
By Friedrich Geiger
BERLIN-RWE AG (RWE.XE) has agreed to sell the buildings in which
its headquarters are based in Essen to U.S. property fund American
Realty Capital Global Trust Inc., the German utility said
Thursday.
The parties agreed that RWE will rent the five buildings in sale
and leaseback agreements. The properties--a highrise dubbed RWE
Tower and four neighboring buildings--are located in the city
center of Essen. They accommodate about 600 employees. RWE and ARC
are keeping the terms of the deal confidential.
"RWE is strongly committed to the Essen location and therefore
has agreed a long-term leaseback with ARC," said group executive
Uwe Tigges.
Write to Friedrich Geiger at friedrich.geiger@wsj.com
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