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Sign in Sign up for a FREE subscriptionKGAL sells HQ office asset in Germany on behalf of South Korean institutional investors
KGAL GmbH & Co. KG has sold the 81,000-square-meter (871,876-square-foot) Deutsche Telekom global headquarters, located in Bonn. The financial terms and new owner were not disclosed.
The company acted both as part owner of the property and as transaction advisor to the majority owners, several South Korean institutional investors. The modern headquarters in Bonn's federal district, which were partially refurbished in 2017, are let on a long-term lease and were acquired by Art-Invest Real Estate.
The single-tenant property, built in 1995, is fully let to Deutsche Telekom on a long-term basis.
