Barings Real Estate Advisers, part of Barings, one of the world’s largest diversified real estate investment managers and the exclusive asset and transaction manager of the Stuttgarter Insurance Group's SIS Stuttgarter Immobilien-Spezialfonds properties in Germany, has acquired the "TRIGA" office building at Max-Lang-Strasse 54 in Leinfelden-Echterdingen, near Stuttgart. The property, the first investment by the SIS Fund in its local market, was acquired from a German institutional investor. The parties have agreed to keep the purchase price confidential.
The "Core+" asset is a modern five-storey office building, with a lettable area of 11,320 m² and 194 underground parking spaces.
Robert Schneider, branch manager of the South Germany region at Barings Real Estate Advisers, comments: "We are pleased to be further expanding our commitment to the Stuttgart property market with this acquisition. 'TRIGA' has a very attractive risk/return ratio and, by applying targeted asset management activities, offers considerable potential for value growth. For instance, it is planned to upgrade the building by installing a large-scale cooling system."
The property is highly accessible. Within less than five minutes' walk there are a U-Bahn and two S-Bahn stations.The journey time to Stuttgart city centre is only 15 minutes. The property has direct access from the A8 motorway via the Stuttgart-Leinfelden junction.
The Stuttgarter Insurance Group's SIS Fund primarily invests in retail and office properties. Barings is responsible for the acquisition and management of the German real estate. Since it was launched in 2012, the SIS Fund has been administered by Institutional Investment Partners on behalf of the Stuttgarter Insurance Group.
Barings Real Estate Advisers is part of Barings LLC, one of the world’s largest diversified real estate investment managers. The group is an active investor in private and public, equity and debt markets, and provides core, value-added, and opportunistic investment and advisory services to institutional and other qualified investors around the globe.
