BC Partners Real Estate (BCPRE) has sold a prelet laboratory and R&D campus in Warstein, Germany to an unnamed ”large US investor”.
The transaction, valued in the “high-double digit millions”, includes an existing building closing in the second half of 2026, and a new development set for delivery in the third quarter of the year.
In late 2023, BCPRE partnered with Garbe Institutional Capital to develop the research and development hub in Germany. Investing through its European Real Estate I fund, BCPRE acquired an existing facility leased by Infineon Technologies in Warstein, North Rhine-Westphalia from WP Carey, along with an adjacent site from Infineon.
At the time, BCPRE said it had partnered with Garbe as operating partner to further develop the asset to include a new building in timber hybrid construction, doubling the space to 21,000sqm.
Laurian Douin, partner at BC Partners Real Estate, said: “This transaction is a prime example of our ability to manage complex, large-scale exits while continuing to deliver high-quality, sustainable assets for leading blue-chip occupiers such as Infineon.
“We were able to take advantage of the new market context and created assets which attracted strong demand from yield-oriented investors due to the project’s exceptional cash-flow profile and delivered strong returns with an earlier than anticipated exit for our limited partners.”
The latest transaction represents the second exit for the BC Partners European Real Estate I fund, following the sale of the Novartis-leased property at 764 Gran Via de les Corts Catalanes in Barcelona this past December.
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