Warburg-Henderson Kapitalanlagegesellschaft für Immobilien (KAG) has bought the administration buildings of the ARAG insurance company in Munich for EUR 60 mln. ARAG will lease the properties back for a period of two years. The 17,000 m[sup]2[/sup] asset is earmarked for Warburg-Henderson's German fund NR. 1. The company said it intends to refurbish the property and subsequently put it on the market.
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
