Bahrain-based Investcorp has announced that together with Continuum Capital Investment Management, it has purchased Bürocampus Wangen based in Stuttgart, Germany for about $99 million.
The deal with BEOS Corporate Real Estate Fund Germany I represents Investcorp’s first real estate investment in Germany.
Bürocampus Wangen, known as The Campus, is a modern office campus situated prominently in the commercial area of Stuttgart, Germany and is comprised of a number of mixed-use buildings totaling approximately 500,000 square feet. It houses predominantly technology-driven and automotive companies.
The Campus features office buildings, research and development, data and design centres, a restaurant, and conference rooms, Investcorp said in a statement.
The acquisition is part of Investcorp’s broader pan-European real estate strategy following its initial focus on UK industrial and logistics assets.
Mohammed Alardhi, executive chairman of Investcorp, said: “This transaction represents the first investment in Germany by Investcorp and is testament to our ongoing European real estate investment strategy and business."
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