Germany's Values Real Estate and Blackbear Real Estate have sold a multi-let office building in Bielefeld, Niederwall 37-39/Marktstraße 1, to investor b-cap.
The centrally-located seven-story building comprises 6,500 m2 of rental space and 111 parking spaces over two basements.
Tenants include a law firm, various doctor's offices, an educational institution, a hairdresser and a restaurant. Values acquired the property as part of the Strike portfolio purchase with its joint venture partner Blackbear Real Estate around one and a half years ago.
The sale was brokered by Erdmann Immobilien Management.
'In addition to the active management of our properties, we also take advantage of sales opportunities in the respective submarkets that arise from portfolio strategy considerations,' said Nicky Georg Kisitzky, CFO Values Real Estate.
The sale of the commercial building in Bielefeld marks the third property divested from the Strike portfolio.
The other two properties sold comprise an asset in Düsseldorf at Luisenstrasse 9 and Aliceplatz 10 in Offenbach. They account for another 6,000 m2 of rental space.
