French asset manager Perial has made its debut acquisition in Germany with the purchase of a portfolio of offices worth €116 mln from a fund managed by Patrizia Immobilien.
The 10 properties, located in the Hesse region, were acquired for Perial's SCPI PF02 fund and comprise around 85,000 m2.
'This, our first transaction in Europe, illustrates our desire to enrich and diversify the portfolio of PFO2 with assets located outside our domestic markets,' commented Yann Guivarc'h, CEO of Perial Asset Management.
The assets, most of which are located in Wiesbaden, are all fully let to a range of German local authorities with residual terms of almost 14 years.
BayernLB in Paris financed the deal. BNPPRE was exclusively commissioned with the marketing of the portfolio.
Perial was advised by L'Etoile Properties, which has been mandated to manage the portfolio.
LPA-CGR advised on legal matters, Albrings & Muller on technical issues, while BUK carried out the environmental audit.
