Warburg-HIH Invest acquires office building near Cologne
Warburg-HIH Invest Real Estate has acquired an office and administrative property development in the district capital of Bergheim, Germany. The seller is the Tecklenburg Group, which developed the project and is now constructing the building.
It is already leased in its entirety on a 20-year lease to the State of North Rhine-Westphalia, acting on behalf of the district police authority of the Rhine-Erft district. The leasable area of the new building, which is located on Sportparkstrasse, approximates 12,100 square meters (130,240 square feet). In addition, there are about 340 parking spots on the plot of around 21,600 square meters (232,500 square feet). The property is earmarked for an individual fund managed by Warburg-HIH Invest. It was agreed to not disclose the selling price.
“We were able to secure the office scheme for our investor early on in the development phase. Since the property is let to a blue-chip tenant who is loyal to the location, it will generate