UBS Real Estate KAG has announced the sale of the LP6 office scheme in the German city of Darmstadt.
UBS Real Estate KAG has announced the sale of the LP6 office scheme in the German city of Darmstadt.
The investment volume of €47 mln represents an 8.6% premium to the asset's most recent valuation.
The buyer is an unnamed investment house based in Düsseldorf which is making the purchase on behalf of one of its spezialfonds. The transfer of ownership is scheduled for early December this year.
The property, which was owned by the UBS (D) 3 Sector Real Estate Europe fund, was developed in 1969 and completely refurbished in 2003. It offers 15,400 m2 of space let with a weighted lease term of 10 years.
The deal follows hard on the heels of UBS' sale last month of the Officium office and retail building in Munich to an insurance company based in the German city.
