Art-Invest Real Estate Group, the Germany-based company, has added to its portfolio with the purchase of the 81,000 m2 office headquarters of Deutsche Telekom in Bonn.

Deutsche Telekom HQ in Bonn, Germany

Deutsche Telekom HQ in Bonn, Germany

Art-Invest, which was founded in 2010, won a competitive bidding process for the single-tenant property. The seller is South Korean asset manager, Kiwoom Asset Management, and KGAL of Germany. Kiwoom represents a number of institutional investors from South Korea. It made the initial investment in 2016.

The property was partly refurbished in 2017, having been originally developed in 1995.

The seller's agents were BNP Paribas Real Estate and Cushman & Wakefield. Legal advice was provided by DLA Piper.

‘With the sale of the property, we were able to successfully conclude the engagement for our Korean partners,’ said André Zücker, MD of real estate at KGAL.

Art-Invest manages investments through real estate funds on behalf of institutional investors. In 2012, Germany’s financial watchdog BaFin granted it permission to launch and manage open ended property vehicles.

The company invests in offices, retail and residential in Germany, Austria, and the UK.