Investcorp Enters German Market
The firm purchased Bürocampus Wangen, a 500,000-square-foot mixed-use office campus in Stuttgart, Germany, in a joint venture with Continuum Capital Investment Management GmbH.
By IvyLee Rosario
Bürocampus Wangen office campus, Stuttgart, Germany
Investcorp has teamed up with Continuum Capital Investment Management GmbH to acquire Bürocampus Wangen, an office campus in Stuttgart, Germany, for around $98.8 million. The seller was BEOS Corporate Real Estate Fund Germany I, managed by BEOS. This purchase marks Investcorp’s first in the German market.
“This transaction represents the first investment in Germany by Investcorp and is testament to our ongoing European real estate investment strategy and business,” said Mohammed Alardhi, executive chairman of Investcorp, in prepared remarks.
Bürocampus Wangen comprises mixed-use buildings that total 500,000 square feet and house office, research and development, data and design, a restaurant and conference rooms.
“The campus is located in a submarket that has enjoyed strong performance in recent years and benefited from an automotive manufacturing presence,” said Neil Hasson, managing director for Investcorp’s Real Estate Investment division, in prepared remarks. “It is anchored by well-established sitting tenants. We continue to explore a range of interesting investment opportunities in Western Europe and look forward to executing further transactions in the months to come.”
Image courtesy of Investcorp
You must be logged in to post a comment.