Fund manager Strategic Value Partners has added nine additional properties to its real estate portfolio in Germany. The properties, which provide a total lettable area of approximately 100,000 m[sup]2[/sup] and consist primarily of office and retail properties in Munich, Düsseldorf, Cologne and Frankfurt am Main, were managed by HVB Immobilien prior to the transaction. The purchase price was not disclosed.
Fund manager Strategic Value Partners has added nine additional properties to its real estate portfolio in Germany. The properties, which provide a total lettable area of approximately 100,000 m2 and consist primarily of office and retail properties in Munich, Düsseldorf, Cologne and Frankfurt am Main, were managed by HVB Immobilien prior to the transaction. The purchase price was not disclosed.
Financing was arranged by Citigroup Global Markets Limited. The seller was advised by the Real Estate Mergers & Acquisitions division of HypoVereinsbank.
The Strategic Value Partners Group is a globally oriented investment manager which manages fund investments of approximately $ 6 bn. In the German-speaking countries, Strategic Value Partners focuses on commercial real estate and medium-sized companies.
In 2007, the company bought the Capri portfolio, including five mixed-use properties with a total lettable area of over 134,000 m2 and an office space in the centre of Berlin; the Bluewin portfolio consiting of 120.000 m2 in Berlin, Hamburg, Dusseldorf, Frankfurt, Stuttgart, and Munich from Seller Union Investment; the Serail commercial real estate portfolio from Berliner Verkehrsbetriebe as well as 118 properties from German savings bank Hamburger Sparkasse.
