German investor Real I.S. has acquired a long-lease logistics property in Bielefeld, Germany, for an undisclosed amount. The asset, which provides a total lettable area of 25,200 m[sup]2[/sup] and around 220 parking spaces, was bought for institutional investment vehicle BGV Bayerische Grundvermögen III SICAV FIS.
German investor Real I.S. has acquired a long-lease logistics property in Bielefeld, Germany, for an undisclosed amount. The asset, which provides a total lettable area of 25,200 m2 and around 220 parking spaces, was bought for institutional investment vehicle BGV Bayerische Grundvermögen III SICAV FIS.
The vendor was a joint project company comprising Hamburg-based HIH Hamburgische Immobilien Handlung GmbH and property team AG.
The property was completed in August 2008 and is fully leased to logistics provider Kuehne + Nagel.
