AEW has completed the second disposal on behalf of Europe Value Partners, its Pan-European value-added strategy. The office asset in Dresden, Germany, was acquired in December 2018 in a joint venture with Catella Asset Management Germany and was sold to a private German investor.
The asset is located on Blasewitzer Strasse, east of Dresden city center, and was acquired as part of a strategy focused on the growth potential in the Dresden market. Located 10 minutes from the city center by public transport and providing flexible office accommodation, the building was well placed to satisfy the growing demand for offices as a result of the fast-growing local economy.
The property comprises a total leasable area of approximately 16,200 square meters (174,000 square feet) over five floors together with 170 basement car parking spaces.
Russell Jewell, head of private equity real estate at AEW Europe, commented: “This early disposal has delivered above expectations a
