Patrizia has acquired an office building in southwestern Germany from Tristan Capital Partners’ CCP 5 LL fund and DW Real Estate.

Patrizia has invested an undisclosed sum to buy the asset on Speyerer Street in Heidelberg, which offers 25,960sqm of office and laboratory space as well as a fitness studio.

Uwe Hettwer, associate director of transactions at Patrizia, said: “Heidelberg enjoys high demand for modern, amenity-driven office space owing to its large population of graduates and young professionals.

”This property in the heart of Heidelberg’s bustling Bahnstadt district benefits from its proximity to national transport links, walking distance to the main station and several companies from the bioscience sector in the Bahnstadt submarket.

”Strong sustainability credentials and amenities boost the asset’s appeal to occupiers, while its existing mix of tenants and high occupancy offer a reliable income stream.”

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