Swedish life sciences solutions provider Bico has divested a property in Berlin, Germany, to real estate manager Beos for €21 mln.
Beos acted on behalf of Swiss Life Kapitalverwaltungsgesellschaft for its real estate special fund, Beos Light Industrial Germany I.
The transaction, which is 10% above book value, also includes a leaseback, with Bico company Scienion as tenant.
A long-term lease of over 15 years has been signed, with a break option after 10 years.
Located on Wagner-Régeny-Straße 15, the 5,200 m2 property was completed in June 2023.
Erik Gatenholm, CEO and president Bico, said: ‘We are pleased to be able to hand over this state-of-the-art building to Beos, a well-known market participant and one of the market leaders in the real estate industry, especially the life science sector, in one of the most thriving areas in Berlin. We are, through Scienion, looking forward to establishing a partnership as a lessee and a tenant, contributing to the expanding biomedical engineering cluster in the area. The divestment is in line with Bico’s investment in the property and will strengthen our financial position and generate a positive cash flow contribution.’
According to customary processes, the transaction needs to seek approval from the city of Berlin, which should take up to three months to complete.
Bico was advised by JLL and White & Case.
