16 Apr 2018
Bahrain, April 16, 2018 – Investcorp, a leading global provider and manager of alternative investment products, is pleased to announce that together with Continuum Capital Investment Management GmbH, Frankfurt, it has purchased Bürocampus Wangen (“the Campus”) based in Stuttgart, Germany from BEOS Corporate Real Estate Fund Germany I , managed by BEOS for approximately €80 million. The acquisition represents Investcorp’s first real estate investment in Germany.
Bürocampus Wangen is a modern office campus situated prominently in the commercial area of Stuttgart, Germany. The Campus is comprised of a number of mixed-use buildings totaling approximately 500,000 square feet and houses some well-known tenants, predominantly technology-driven and automotive companies.
The Campus features good quality office buildings, state-of-the-art research and development, data and design centres, a restaurant, and conference rooms.
The acquisition is part of Investcorp’s broader pan-European real estate strategy following its initial focus on UK industrial and logistics assets. The Campus is expected to be one of the seed assets of Investcorp’s upcoming European real estate portfolio.
Mohammed Alardhi, Executive Chairman of Investcorp, said: “This transaction represents the first investment in Germany by Investcorp and is testament to our ongoing European real estate investment strategy and business. Investcorp’s leading expertise position in the US market, combined with the continued activity of our European team proves that we are well-positioned to diversify and broaden our product offering to clients.”
Commenting on the acquisition, Neil Hasson, Managing Director in Investcorp’s Real Estate Investment division in Europe said: “We are delighted to have acquired this asset. The Campus is located in a submarket that has enjoyed strong performance in recent years and benefited from an automotive manufacturing presence. 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.”