Investcorp gets into German real estate
Investcorp, a manager of alternative investment products, announced yesterday that together with Continuum Capital Investment Management, Frankfurt, it had purchased Germany’s Burocampus Wangen (“the Campus”) from BEOS Corporate Real Estate Fund Germany I, which is managed by BEOS, for approximately €80 million (Dh363.62m). The acquisition represents Investcorp’s first real estate investment in Germany. Burocampus Wangen is a modern office campus situated prominently in the commercial area of Stuttgart. The Campus is comprised of a number of mixed-use buildings totalling about 500,000 square feet and houses some well-known tenants, predominantly technology-driven and automotive companies.