N A S Invest and BlueRock acquire €16.4m office scheme in Karlsruhe (DE)

N A S Invest and BlueRock acquire Karlsruhe office asset for €16.4m (DE)
N A S Invest and BlueRock have acquired another 7,000m² office scheme in line with the strategy for their BR-N A S German Mittelstand Properties joint venture. The property of the core plus type is located in Karlsruhe and occupied on a long-term lease. It was sold by the insurance company Wurttembergische Versicherung for c.€16.4m. Immoraum Real Estate Advisors facilitated the transaction in an advisory role.
 
The property is centrally located in the southern district of Ruppurr and has excellent transportation access. The central railway station is conveniently reached via Ettlinger Allee, the street passing the property, and by light rail service. The nearest motorway junction (A5) is just a few minutes away. The asset is fully occupied. Head tenant is the MVZ Labor Diagnostik medical diagnostics institute.
 
“The property perfectly fits the requirements profile of our investment strategy. It boasts a diversified tenant base from Germany’s mid-market sector and offers an attractive capital appreciation potential,” said Nikolai Deus-von Homeyer, managing partner at N A S Invest. “The transaction demonstrates that we retain our market access even in a competitive environment.”

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