German fund manager Union Investment and its fund partner Investa Capital Management have acquired the technology and pharmaceuticals hub Campus Konstanz in southern Germany.
Purchased for Union's special fund Urban Campus Nr. 1, launched by Union Investment and Investa, the asset comprises 12 individual buildings with around 20 tenants not far from the Swiss border. The investment volume was not disclosed.
'Urban Campus Nr. 1 focuses primarily on campus properties, many of which have a certain history,' says Wolfgang Kessler, managing director of Union Investment Institutional Property. 'Campus Konstanz has such a history and is an addition to the technology and pharmaceutical class of the fund’s portfolio.'
The Campus Konstanz properties, including offices, labs, production and logistics spaces, were built between 1973 and 2008 and have been modernised numerous times.
The largest tenants include chemical and pharmaceuticals company Takeda which occupies an area of 9,700 m2, a tax office of the state of Baden-Wuerttemberg with 5,400 m2, Siemens Postal, Parcel & Airport Logistics with 3,800 m2 and pharmaceuticals company Phast Development with 3,750 m2.
The deal follows the acquisition of the campus property Loftwerk in Nuremberg for the same fund, announced earlier this week.
The acquisition took the form of an off-market transaction. GSK Stockmann advised on the legal aspects of the deal.
