Bayerische Versorgungskammer (BVK) has invested in the US office sector, its second US deal in as many months.
Investment managers for the German fund bought assets in eastern US under a global mandate.
CBRE Global Investors bought the 200 Cambridge Discovery Park in Boston for a “very high two-digit-million sum”, Universal Investment noted in a press release.
Universal acts for a global real estate mandate which BVK awarded CBRE GI late last year.
Around the same time, BVK awarded a similar mandate to La Salle Investment Management, which last month bought offices in Chicago for the Bayerische Ärzteversorgung (BÄV).
The most recent purchase in Boston is a six-storey, LEED-gold certified asset covering 18,750sqm. Completed in 2011, the property is fully-let to Forrester Research under a long-term rental agreement.
For an unnamed “major German Versorgungswerk”, Universal recently bought an office building in Beverly Hills with Deutsche Asset & Wealth Management as asset manager for the Spezialfonds.
Universal said the Boston purchase was the its sixth transaction in a short period of time.
In its most recent real estate survey, Universal found investors are particularly keen on North America, looking to increase their exposure from around 2% to 11% as a real estate quota.
