BR-NAS, a Luxembourg-based joint venture of NAS Invest and BlueRock Group, just acquired another two properties for its “BR-NAS German Mittelstand Properties SLP-SICAV” investment fund. Both properties – one being located in Hanover, the other in Berlin – are office and medical centres of the core-plus category.
The property in Hanover lies in the Wülfel district and thus in immediate proximity to the Hanover fairgrounds. Raised in 1994, the building has a gross lettable area of around 9,100 m² and a mixed tenant structure.
The building in Berlin represents an office scheme of around 5,000 m² in the borough of Tempelhof-Schöneberg, and is fully occupied. The tenant structure is highly diversified, as the currently 21 occupiers include companies of various industries along with doctors’ offices and institutions.
„We are very pleased to have acquired another two attractive buildings at favourable terms in a highly competitive market environment. Our longstanding network in the German real estate market enables us to benefit from exclusive purchasing opportunities across the country”, says Julian Reinecke, Managing Partner responsible for transactions and asset management at NAS Real North-East.
“The location and character of the buildings, and above all the broad tenant structure with its many medium-sized enterprises offer a high diversification of our fund’s rental cashflow. Now, the portfolio covers six different metropolitan areas with more than 80 tenants from ten different industries,” said Nikolai Dëus-von Homeyer, Managing Partner of NAS Invest.
The two purchases bring the portfolio of the “BR-NAS German Mittelstand Properties SLP-SICAV” fund up to a volume of €85m.