has bought an office development in Germany from Kreer Group.
The manager has acquired the Kopernikusquartier property development in Heidelberg for an undisclosed sum on behalf of a fund.
The five-storey building which is expected to complete by the end of 2023, has around 5,850sqm of office space and around 1,020sqm of retail units.
Hans-Joachim Lehmann, the managing director of , said: 鈥淲e managed to secure this attractive investment opportunity through an off-market deal early on.
鈥淭he current trend toward generously-proportioned interiors with modern fit-out as seen in the case of Kopernikusquartier actually gathered momentum during the COVID-19 pandemic, and accommodation of this quality is very much in demand among tenants.鈥�
Florian Kreer, managing director of the Kreer Group, said: 鈥淗aving acquired a property from Warburg-HIH Invest in 2019, we are rather pleased with this latest transaction, during which we swapped roles. Warburg-HIH Invest is a sophisticated office real estate investor, and it is nice to see that our project in Heidelberg鈥檚 Bahnstadt district will be in good hands.鈥�
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