Warburg-Henderson Kapitalanlagegesellschaft für Immobilien (KAG) has bought the administration buildings of the ARAG insurance company in Munich for EUR 60 mln. ARAG will lease the properties back for a period of two years. The 17,000 m[sup]2[/sup] asset is earmarked for Warburg-Henderson's German fund NR. 1. The company said it intends to refurbish the property and subsequently put it on the market.
Warburg-Henderson Kapitalanlagegesellschaft für Immobilien (KAG) has bought the administration buildings of the ARAG insurance company in Munich for EUR 60 mln. ARAG will lease the properties back for a period of two years. The 17,000 m2 asset is earmarked for Warburg-Henderson's German fund NR. 1. The company said it intends to refurbish the property and subsequently put it on the market.
KAG's fund owns EUR 300 mln worth of property assets and is planning another EUR 150 mln of acquisitions in 2007.
