Züblin Development sells €200-million property portfolio (DE/LU)

STRABAG Projektentwicklung GmbH, Cologne and IBB GmbH, a subsidiary company of Ed. Züblin AG, Stuttgart, have successfully sold ten high-quality properties in a portfolio for over €200 million to ICredpartner Sarl&Cie SECS, a company from Luxemburg which is advised by the financial services company UBS. Colliers PropertyPartners were appointed for the sale and coordinated the sale in the form of a limited bidder procedure.

The RED STONE portfolio comprises mainly office buildings in established and dynamic markets of the seven largest property business centers in Germany including Hamburg, Frankfurt and Stuttgart. The properties offer a total area of ca. 102,400 m², nearly 80% of which is office space. All buildings have been erected recently and thus satisfy the most modern standards. The liquidity gained from the transaction is now to be reinvested directly in the expansion of business activities in Germany and the exploitation of market opportunities in new developments.

Source: Colliers PropertyPartners

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