Investcorp Acquires Office Campus in Germany for Nearly $100M
Investcorp, which is headquartered in Bahrain and has offices in New York City, says the deal involves the firm’s second real estate investment in Germany.
ESCHBORN, GERMANY—Investcorp has acquired a recently renovated KO office campus here from Cilon AG for 86 million euros or approximately $99 million.
Investcorp, which is headquartered in Bahrain and has offices in New York City, says the deal involves the firm’s second real estate investment in Germany.
KO Campus is a modern office campus located in the commercial area of Eschborn, part of the Frankfurt Rhein-Main urban area. KO Campus is comprised of three office buildings totaling approximately 40,000 square meters (more than 400,000 square feet) and houses some well-known tenants across a diverse set of sectors, including: manufacturing, retail and technology, Investcorp states.
In April 2018 Investcorp announced its first German real estate deal. Investcorp and Continuum Capital Investment Management GmbH purchased the Bürocampus Wangen based in Stuttgart, Germany. Both investments are part of Investcorp’s broader pan-European real estate strategy, following its initial focus on UK industrial and logistics assets, the company notes.
Rishi Kapoor, co-CEO of Investcorp, says, “Our European real estate team continues to ramp up its momentum in sourcing attractive deals for our clients. This transaction represents an important milestone in our European real estate focused growth initiative, and is testament to our confidence in the German market’s viability. We are continuing to explore a range of interesting investment opportunities in the country and more widely across the major cities in Europe.”
Neil Hasson, managing director in Investcorp’s real estate investment division in Europe, adds, “Germany’s real estate market is thriving, and demand for office space from local businesses is booming. KO Campus is ideally located in the center of the Frankfurt urban area, one of the top three real estate markets in Germany, and is anchored by well-established tenants who represent a diverse portfolio of industries. We are very pleased to have acquired this asset.”