X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FRANKFURT-GE Real Estate Germany has acquired an 18-building, 947,224-sf office portfolio for $184.83 million (euros 140 million). The seller was HDI-Gerling Lebensversicherung AG, the insurance company acquired by the Talanx earlier this year.

The buildings are spread throughout West Germany. Twelve of the buildings are located in the top seven business districts: Berlin, Dusseldorf, Frankfurt, Hamburg, Köln and Munich.

The portfolio’s overall occupancy was not available. GE Real Estate has not yet responded to a Wednesday request for that and other details about the portfolio, such as the location and size of each of the building and a list of their largest tenants.

Germany’s economy is one of the largest in Europe and is currently experiencing a recovery after lagging for the past few years. The portfolio is the fifth acquired by GE Real Estate Germany in the past eight months.

“This recovery is already showing its effect on the key office markets, making it an ideal time for us to start building our exposure to this sector,” says GE Real Estate Germany’s managing director Rainer Thaler in a prepared statement.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.