HIH Invest Real Estate has acquired the “Netzwerk” office scheme located at Lilienthalstrasse 7 in the Bavarian city of Regensburg in a club deal on behalf of German institutional investors. The property was sold by a closed-end private investor fund managed by Real IS. Completed in 2011, the building was constructed for the E.ON group in the Westenviertel district and has since then served as head office of the group’s subsidiary, BayernWerk Netz. The building, which represents a core property, features four full storeys as well as a recessed storey with a roof terrace, and is grouped around three greened courtyards. Out of the total lettable area of 28,545m², office units account for 24,761m², and storage areas for 3,669m². Also included are 600 underground car park and surface level parking spots. The property is DGNB Platinum certified.
“What makes Regensburg a compelling office location is the city’s high economic strength and its widely diversified demand for space, which is matched by a virtually depleted supply. Over the years, the site on Lilienthalstrasse has established itself as a coveted high-end office location that supplements the inner city, specifically because of its convenient transportation access,” commented Stefanie Wicke, Senior Fund Manager at HIH Invest.
“In BayernWerk Netz GmbH, we have a blue-chip tenant who occupies this attractive accommodation on a long-term lease, the property being one of the most valuable office buildings anywhere in Regensburg. We were able to acquire the property at an appropriate initial cost ratio, thereby opening up the prospect of a profitable cash-on-cash return for our investors,” said Alexander Eggert, Managing Director of HIH Invest.