Partners Group has invested €320m into four European office assets on behalf of its clients since the start of the year.
The Swiss multi-asset manager said the assets, which have a total lettable area of 130,000sqm, were acquired in Belgium and Germany.
The assets include the Botanic Tower, a 19-story office property in the North district of Brussels and Goldenes Haus, a nine-story building located in Frankfurt’s City West office district.
The remaining two assets are located in Berlin. These are a vacant office building in the Siemensstadt district of West Berlin and a seven-building office park located in close to Tegel Airport.
The manager said the Berlin acquisitions are part of a joint venture targeting office properties that have the potential for refurbishment and/or repositioning across the city.
Lars Kreutzmann, a senior vice president and co-head of Partners Group’s private real estate business in Europe, said: “These investments are in line with our relative value focus on acquiring affordable office space in submarkets of European cities where supply has not yet caught up with demand.
”The strategic locations of all four assets position them well to cater to the needs of corporate tenants and capitalise on high office take-up in these cities. We are currently working to attract long-term tenants to the properties and further improve their respective cash-flow profiles.”
Partners Group said in addition to these acquisitions, it has also completed two other European real estate deals since the start of the year, providing liquidity solutions for two multi-asset portfolios totalling 160,000sqm on behalf of its clients.
The first portfolio comprises six regionally dominant, food-anchored shopping centres in Italy. The second is a property portfolio comprising seven assets across Sweden and Finland in the retail, logistics, hospitality and education sectors.
Stefan Lempen, the managing director and co-head of Partners Group’s private real estate business in Europe, said: “The overarching strategy for our real estate investment practice in Europe, as well as globally, is to offer solutions to complex situations.
“The acquisitions we have completed since the start of the year demonstrate our ability to provide bespoke investment or liquidity solutions to asset owners, general partners and operators that need a new partner for the continued support of tailored business plans at the asset level.”
