Real I.S. AG has sold the office property Netzwerk in Regensburg, Germany on behalf of the closed-end retail fund Bayernfonds Deutschland 21.
The office building offers a rental area of around 28,500 square metres and 600 car parking spaces.
The Hamburg-based investment and asset manager Fondsgrund carried out the transaction for a club of German institutional investors from HIH Invest Real Estate. The parties have agreed not to disclose the transaction price.
Located at Lilienthalstrasse 7, the single-tenant office complex was completed in 2011. The German Sustainable Building Council (DBNB) has awarded the building a Platin certification. Long-term tenant Bayernwerk Netz GmbH, a wholly-owned subsidiary of E.ON, uses the building as head office.
‘We acquired Netzwerk in 2011 and developed the property as projected. The sale and disinvestment, in the interest of our investors, is part of our long-term investment strategy,’ comments Axel Schulz, Global Head of Investment Management at Real I.S. AG.
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!
