Investment manager AXA IM Alts has announced the sale of its its majority stake in the Technocampus office complex in Berlin-Spandau to Caleus Capital Partners II, the investment management platform of the Caleus Group.
Financial details of the deal, which is expected to close next month, were kept confidential. However, press reports put the deal price at €400 mln.
AXA IM Alts acquired TechnoCampus on behalf of clients at the end of 2018 from the Caleus Group, which retained a 10% interest. Caleus is said to be taking back the over the 90% interest from Axa on behalf of GIC, the Singaporean sovereign wealth fund, according to German news portal Thomas Daily.
In 2022, the campus was expanded by two sustainable and flexible new buildings to provide a total of over 60,000 m2. The first of the two new buildings is already fully let.
Caleus will continue to manage the campus.
