Tue, 01 October 2019
Bahrain-based Investcorp has grown its European real estate assets to more than USD500 million with the purchase of the Airport Centre, a multi-let office and light industrial property found close to the international airport in Hamburg.
A leading global provider and manager of alternative investment products, this is Investcorp’s fourth real estate investment in Germany in the last 12 months.
The property currently houses 32 tenants across a diverse set of sectors and has demonstrated a strong occupational history since construction.
The purchase of Airport Centre closely follows the acquisitions of office buildings located in Stuttgart, Eschborn and Niederrad, bringing Investcorp’s total AUM in Germany to approximately USD355 million.
Neil Hasson, Managing Director - Head of Investcorp European Real Estate, said: “We are delighted to announce the purchase of Airport Centre in Hamburg. This acquisition is an important milestone as we continue to execute our strategic vision to expand our presence in Europe and grow our AUM. We believe that the German office market has good fundamentals and we expect that our portfolios will exhibit a good return profile for our investors.”