Danish property company Kristensen Properties has acquired four fully-leased office buildings in the PRE park in Kaiserslautern, in the German Rhineland-Palatinate state. PRE Regionalentwicklung is selling the assets at a total price of EUR 33.25 mln. The office properties provide a total lettable area of 25,000 m[sup]2[/sup].
Danish property company Kristensen Properties has acquired four fully-leased office buildings in the PRE park in Kaiserslautern, in the German Rhineland-Palatinate state. PRE Regionalentwicklung is selling the assets at a total price of EUR 33.25 mln. The office properties provide a total lettable area of 25,000 m2.
The redevelopments of the PRE park site started in 1997. The park, which is being created on the grounds of a former train station next to the University of Kaiserslautern, will consist of about 80,000 m2 of space, 17,000 m2 for residential use and 33,000 m2 for commercial use.
