German investor Patrizia Immobilien has purchased two assets from Warburg-HIH Invest in Krefeld and Münster for an undisclosed sum.
'We are pleased to have found in Patrizia a renowned investor for two properties occupied on long-term leases,' said Hans-Joachim Lehmann, managing director of Warburg-HIH Invest.
The deals include the Portal 10 office property in Münster (pictured), on Albersloher Weg, with a lettable area of 6,562 m2 and 51 car parking spots. Upon its completion in 2010, the multi-tenant property was added to an open-ended special alternative investment fund managed by Warburg-HIH Invest. The weighted average lease term is 6.7 years at the moment.
The industrial property in Krefeld, which is occupied by Siemens, has a lettable area of around 59,000 m2. This building was raised in 2014 and was up to now held in the portfolio of an individual fund owned by a German superannuation scheme.
Both transactions represented asset deals and were brokered in conjunction with a structured sales process, Warburg HIH said.