Transactions - AUGUST 19, 2014

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Two Singapore firms invest in European markets

by Andrea Waitrovich

Asia Pacific investors continue investing capital into Europe. In two separate deals, two Singapore-based firms are under contract to acquire several office properties located in London and Germany.

Announced this month, the newly formed Singapore REIT IREIT Global acquired an office complex in Munich and a German portfolio of office buildings let to Deutsche Teleko. Law firm Dentons advised IREIT Global on the deals.

Its initial portfolio comprises four German office properties in the key cities of Bonn, Darmstadt, Münster and Munich. Real Capital Analytics reports the sellers are FOM Real Estate and LBBW Immobilien. The purchase price was approximately €288 m

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