BR-NAS, the joint venture between property investors BlueRock and NAS, has bought two office buildings in Germany for €30m.
BR-NAS German Mittelstand Properties said it acquired an office property with substantial upside and repositioning potential in the vicinity of Düsseldorf and a core-plus property with long-term leases in Essen.
Marco Lüder, a managing partner at NAS Real, said “Our good access to sellers enabled us to secure properties that fit our investment strategy perfectly. The acquired properties offer interesting value-add opportunities and come with an attractive mix of tenants from the German small and mid-sized market segment.”
The BR-NAS German Mittelstand Properties focuses on investments in office buildings and health centres in German conurbations.