Real IS, the property arm of German bank BayernLB, has purchased two office buildings in Bremen, Germany.
Financial details were not revealed.
Real IS made the acquisition on behalf of its Themenfonds Deutschland alternative investment fund. The assets are located next to each other in the city’s Technologiepark.
Axel Schulz, global head of investment management of Real IS, said: ‘The acquisitions in Bremen’s Technologiepark mark the first investments of Real IS AG in Bremen. The location in the Technologiepark offers good transport connections and also benefits from its proximity to an excellent university and a high density of qualified professionals.’
One property is a six-storey building in Anne Conway Strasse. Completed in 2014, it comprises around 5,200 m2 and 43 parking spaces. The second property in Caroline Herschel Strasse comprises 8,500 m2 with 109 parking spaces.
Both buildings are fully let, multi-tenant office properties near to the University of Bremen.
The twin purchases by Real IS follow the acquisition of an office in Barcelona, called Diagonal 67, by the company last week. Completed in 2009 and located in the 22@ district, the asset comprises 5,400 m2 across eight stories.