Saturday 20 July 2019

Babak Sultani and Hazem Ben-Gacem.

Investcorp buys prime German office property for $99m

MANAMA, September 10, 2018

Bahrain-based Investcorp, a leading global provider and manager of alternative investment products, has announced that it has purchased KO Campus, based in Eschborn, Germany from Cilon AG for €86 million ($99.3 million).

The newly-renovated KO Campus is a modern office property situated prominently in the commercial area of Eschborn, Germany, part of the Frankfurt Rhein-Main urban area.

It comprises three office buildings spread over a 40,000-sq-m area and houses some well-known tenants across a diverse set of sectors, including: manufacturing, retail and technology.

This is Investcorp’s second real estate investment in Germany, said a statement from the Bahrain-based company.

In April, Investcorp had announced its first German real estate deal. Together with Continuum Capital Investment Management GmbH, the company purchased the Bürocampus Wangen based in Stuttgart, Germany.

Both investments are part of Investcorp’s broader pan-European real estate strategy, following its initial focus on UK industrial and logistics assets, it added.

Investcorp Co-CEO Hazem Ben-Gacem said: "The company has a long history and an established track record of identifying valuable real estate acquisitions. This acquisition forms an exciting addition to our diversified portfolio of prime assets, and we believe that we are well-positioned to add value to this investment."
"With a solid buy-and-build strategy in place, we believe we are on the right track to continue to identify opportunities in the sector," he stated.

A premium office property, KO Campus features high quality and recently renovated office buildings, state-of-the-art research and development, data and design centres, a restaurant and conference rooms.

Commenting on the acquisition, Babak Sultani, the managing director, Real Estate Product Specialist, at Investcorp, said: "Following on Investcorp’s expertise in the US market, we are committed to expand our real estate footprint in Europe and Germany has always been considered an attractive market for us."

"We believe that KO Campus and Burocampus Wangen are well-occupied, stable assets in two of the most dynamic markets," he added.-TradeArabia News Service

Tags: Investcorp | Germany | office property |

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