RWE Tower in Essen to be sold to ARC Global Trust

RWE Tower in Essen to be sold to ARC Global Trust

RWE Group Center will remain in Essen
Long-term leaseback agreements for the buildings have been put in place
RWE and US property fund American Realty Capital Global Trust, Inc. (ARC) signed the sale and leaseback agreements for the buildings of the RWE Group Center in Essen yesterday. The contracts stipulate a sale and leaseback transaction between RWE and ARC for the “RWE Tower” and four neighbouring buildings.
The office buildings around the RWE Tower at Opernplatz in Essen will remain the seat of RWE’s Group headquarters. “RWE is strongly committed to the Essen location and therefore has agreed a long-term leaseback with ARC”, Uwe Tigges, CHO of RWE AG, pointed out. “In consultation with ARC we are currently modifying the office spaces in the tower so that they will meet our requirements for the workplace of the future”, Uwe Tigges explained.
It was agreed between the parties to keep the terms of the agreements strictly confidential.
Source:
RWE
Oil and Gas Press

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