TLG Immobilien has acquired a centrally located office property in Leipzig, investing a total of approximately €57m in the transaction.
The modern office building is centrally located in Leipzig and benefits from close proximity to one of the city's main arteries and excellent public transport links.
Currently fully let, the property’s main tenant is a publicly-owned company. Taken together, the tenants generate annual contractual rent of €3.3m. The weighted average lease term (WALT) is 9.5 years.
"Leipzig is one of the most promising cities for investments in office properties in eastern Germany", said Niclas Karoff, member of TLG Immobilien's Management Board. "We are pleased to have acquired this valuable property, which has an excellent rental situation and represents a further expansion of our portfolio in Leipzig."
HVB Immobilien transacted the sale on behalf of the seller – an institutional investor – as its asset manager.
