INNIO Group has acquired its Austrian headquarters from ICG Real Estate (ICGRA) in a €138m deal.
ICGRE said it has sold the asset based in Jenbach, on behalf of its Strategic Real Estate I fund. The transaction closed two years prior to the original target date, “achieving returns materially in excess of initial projections”.
ICGRE first acquired the asset from INNIO in October 2020 through a sale-and-leaseback agreement in which the company leased back the site on a 20-year triple-net lease.
Krysto Nikolic, global head of ICG Real Estate, said: “We are delighted to dispose of this asset, significantly ahead of schedule and to the mutual benefit of INNIO and our investors.
“This sale affirms our core thesis of value creation through sourcing of mission-critical real estate and the engineering of innovative solutions for corporate occupiers, ensuring their long-term infrastructure needs while generating meaningful outperformance.”
To read the latest IPE Real Assets magazine click here.
