JP Morgan Asset Management – Global Real Assets has acquired two office properties in Berlin and Hanover on behalf of one of its funds.
JP Morgan Asset Management – Global Real Assets has acquired two office properties in Berlin and Hanover on behalf of one of its funds.
The investment volume was not disclosed.
The larger of the two acquisitions is a 22,000 m2 office building in Berlin Wilmersdorf occupied by Arvato and LBB. The asset in Hanover is slightly smaller at 21,500 m2. The building is located next to the main train station in Hanover and is occupied by rail company Deutsche Bahn.
JP Morgan Asset Management was advised by Happ Luther (legal) and Engel & Völkers. HSH Nordbank provided financing for the transaction.
JP Morgan Asset Management – Global Real Assets had $87 bn (€80.5 bn) in real estate, infrastructure and transportation assets under management across the US, Europe and Asia Pacific, at end-September 2015.
