Warburg-HIH Invest Real Estate has bought a 1,908sqm a mixed-use building for its open-ended special property fund.
The investment manager said it bought that fully occupied commercial building in Bonn on behalf of its Warburg-HIH Perspektive Einzelhandel: Fokus Geschäftshäuser.
The property was sold by Hahne Immobilien.
Jens Nagelsmeier, the head of retail transactions at Warburg-HIH Invest, said: “A number of property developments near the central railway station of Bonn will cause the prime high-street area in the adjacent pedestrian precinct to be repositioned upon completion.
“The previously rather unappealing railway station forecourt will transform into an urban site marked by a high quality of stay and an attractive footfall as new retail, gastronomy and hospitality venues are added.”
Thomas Christ, a senior fund manager at Warburg-HIH Invest, said: “The acquisition underlines the selective and quality-focused set-up of the fund portfolio and perfectly complements the investment profile because of the location, the type of use, and the lease term.”