LaSalle Investment Management's EUR 1bn German Income & Growth Fund (GIG) has acquired a 22,500 m[sup]2[/sup] office portfolio consisting of three buildings near Bremen airport. The investment vehicle has bought a 6,500 m[sup]2[/sup] existing building and two office projects for about EUR 35.5mln. The existing asset was completed ten years ago, and is fully let. The two developments are expected to be completed by the end of the year and the third quarter of 2008 respectively. They will provide 4,600 m[sup]2[/sup] and 11,000 m[sup]2[/sup] of office space. The assets will be managed by the airport operator Verwaltungsgesellschaft Airport GmbH.
LaSalle Investment Management's EUR 1bn German Income & Growth Fund (GIG) has acquired a 22,500 m2 office portfolio consisting of three buildings near Bremen airport. The investment vehicle has bought a 6,500 m2 existing building and two office projects for about EUR 35.5mln. The existing asset was completed ten years ago, and is fully let. The two developments are expected to be completed by the end of the year and the third quarter of 2008 respectively. They will provide 4,600 m2 and 11,000 m2 of office space. The assets will be managed by the airport operator Verwaltungsgesellschaft Airport GmbH.
