AEW has acquired an office asset in Dresden, Germany, on behalf of one of its funds, in a joint venture with local partner Catella Asset Management GmbH, from a Luxembourg vehicle represented by Optimum Asset Management S.A.
Located on Blasewitzer Strasse, East of the Dresden city center, the property was built in 1995 and provides a total lettable area of approximately 16,200 square meters (174,000 square feet) over five floors across two connected buildings, as well as 170 basement car parking spaces.
“The Dresden office market is underpinned by attractive fundamentals with a clear lack of supply and limited development pipeline combined with a growing tenant demand,” said Alexander Strassburger, co-head of investments for AEW in Europe. “Having partnered with local operators Catella Asset Management to implement our asset management plan for the property, we are confident that we can deliver attractive income uplifts and capital value growth on behalf of our
