Warburg-HIH Invest Real Estate acquired an office building in Braunschweig from Siemens Mobility and added it to the umbrella fund of a German savings bank. The property has a gross lettable area of 12,350m² and is fully occupied. Its tenant is Siemens Mobility itself, a company that, while being wholly owned by Siemens, operates autonomously. The lease was signed for a ten-year term. It was agreed not to disclose the selling price.
“Completed as part of the Siemens Mobility Campus in 2003, this office scheme boasts a modern specification standard as well as excellent transport links. We acquired the property from Siemens Mobility in a sale-and-lease-back transaction. Siemens continues to occupy the building with its mobility arm in an attractive campus location,” said Hans-Joachim Lehmann, Managing Director at Warburg-HIH Invest.
Siemens Mobility employs around 3,300 staff at its Braunschweig office. The spectrum of deliverables provided at this site includes the entire bandwidth of railway automation and control systems for rail-bound transport and its infrastructure. The campus lies only a 20-minute car ride from Braunschweig’s airport while the commute to the inner city takes twelve minutes.
“On behalf of a savings bank, we secured an interesting property and a blue-chip tenant via a sale-and-lease-back transaction,” said Alexander Eggert, Managing Director at Warburg-HIH Invest. “For occupiers, such arrangements present an interesting opportunity to increase their flexibility with respect to the properties they occupy and to take advantage of professional property management at the same time. While the concept of pooling investment assets is hardly new, the management options have considerably expanded in recent years. Clients benefit from improved performance and cost transparency and from individual intervention options in many management processes.”