Malaysian pension fund sells German office portfolio
AEW Immocommercial is in contract to buy a four-property portfolio from Invesco Real Estate, which is selling the asset on behalf of Malaysia’s Employees Provident Fund. An official statement has not been released, but the sales price is rumored to be €314.1 million ($397.5 million). The office portfolio totals approximately 548,749 square feet. Assets are located in the Germany towns of Berlin, Hamburg, Munich and Offenbach Am Main. All the properties have triple-net leases. The offices include the Deutsche Bahn Zentrale am Berliner Nordbahnhof and Areva headquarters.