A fund advised by Tristan Capital Partners and German real estate investment management firm Wollenberg Investment Management (WIM) have acquired seven office properties across Germany in a joint venture agreement.
Financial details were not disclosed.
The portfolio has a core+ to value-add profile, according to WIM, and comprises 42,000 m2 of assets in 'good micro locations' in Dusseldorf, Neuss, Essen and Mülheim an der Ruhr.
The Germany-focused asset manager said the properties all had significant value enhancement potential.
The assets were divested from the portfolios of several funds belonging to 'an institutional, top tier investment manager', WIM said.
WIM is both co-investor and will act as investment manager for the assets throughout the holding period.
