GE Real Estate has acquired 100% of the German specialty property fund Immobilienspezialfonds for EUR 420 mln. The Fund's portfolio comprises 12 office properties across western Germany, located in the major financial centers, including Frankfurt, Munich, Hamburg, Dusseldorf, Stuttgart, Bonn, and Karlsruhe.
GE Real Estate has acquired 100% of the German specialty property fund Immobilienspezialfonds for EUR 420 mln. The Fund's portfolio comprises 12 office properties across western Germany, located in the major financial centers, including Frankfurt, Munich, Hamburg, Dusseldorf, Stuttgart, Bonn, and Karlsruhe.
In a press release, the company said that the properties provide 150,000 m2 of office space. 'This acquisition is the first sizeable commercial real estate transaction that we are making in Germany', indicated managing director of GE RE Germany Rainer Thaler.
Property advisor Colliers Property Partners advised GE Real Estate, whilst Freshfields and Pöllath and Partners acted as legal advisors.
GE Real Estate is one of the world's leading commercial real estate companies with EUR 33.8 bn in assets and a presence in 24 countries throughout North America, Europe, Asia, and Australia/New Zealand.
