German property company DIC Asset has invested €267m to buy three additional office assets from TPG Real Estate Partners.
TPG Real Estate said it had sold Forum, New Technology Center and the Office Center West buildings located in the TechnologiePark office park in Cologne.
TPG Real Estate acquired the seven-building TechnologiePark office park in Germany from EQT in 2019. It then sold the Mercedes-Benz Center car showroom hub and full-service centre in office park to DIC in April 2021 for €65m.
Michael Abel, a partner at TPG Real Estate, said: “We invested in TechnologiePark because of the quality of the properties and our view of Cologne as an accessible and growing city.
“Over the course of our ownership, we have implemented operational and asset management initiatives to help retain and attract the properties’ strong tenant base.”
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