Warburg-HIH Invest sold an office property in Munster and an industrial property in Krefeld to Patrizia Immobilien AG. Both transactions represented asset deals and were brokered in conjunction with a structured sales process. It was agreed not to disclose the selling prices.
The “Portal 10” office building on Albersloher Weg in Munster has a lettable area of 6,562m² and 51 car parking spots. Upon its completion in 2010, the multi-tenant property was added to an open-ended special AIF 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 59,000m². 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.
“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.