The real estate investment arm of German bank Bayern LB has acquired a 15,000sqm office property in Portugal for its open-ended property fund.

Real IS has invested an undisclosed sum on behalf of the Realisinvest Europa fund to buy K-Tower in Lisbon from Krest Real Estate Investments.

K-Tower’s anchor tenant is Critical TechWorks, a joint venture between BMW Group and Critical Software, Real IS added.

Barbara Geidner-Buchelt, head of investment management international at Real IS, said: ”This acquisition is our first investment in the Portuguese market, which we have been watching very closely for several years. We were impressed by both the outstanding energy efficiency of the building and its location. Lisbon is Portugal‘s capital city and its most important office location.”

She added that Realinvest Europa was one of the first open-ended retail property investment funds with a Taxonomy Regulation-compliant investment ratio.

Jochen Schenk, CEO of Real IS, said: ”All the properties in the portfolio have environmental characteristics according to SFDR and have a green building certificate. Realisinvest Europa is currently one of the few pan-European funds with such a high ratio of taxonomy-compliance.”

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