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Sign in Sign up for a FREE subscriptionUnion Investment acquires Westfalen Center Dortmund, Germany
Union Investment has acquired the Westfalen Center Dortmund, Germany.
The vendor is Swiss investor AFIAA Investment Foundation for International Real Estate Investments. The purchase price was not disclosed.
Located close to Dortmund city center, the campus property comprises an office building that incorporates a hotel. The campus occupies a 10,062-square-meter (Tk-square-foot) site, with around 30,415 square meters (tk square feet) of rental space and 442 parking spaces.
The acquisition is being made on behalf of the Urban Campus Nr. 1 special fund established jointly by Union Investment and Investa Capital Management (ICM). The Westfalen Center Dortmund is now the eighth property in the fund, following acquisitions in Fürth, Nuremberg, Constance, Mannheim, Hamburg, Bochum and Munich. As with all properties in Urban Campus Nr. 1, Investa Real Estate will handle property and tenant management.
“Since the property is already laid out as a campus, our T
