Purchased assets are earmarked for the “BR-NAS German Mittelstand Properties SLP-SICAV” fund
Fund portfolio grows to six assets in a total volume of 85 million euros within six-month period
Next acquisitions worth 50 million euros already under close review
BR-NAS, a Luxembourg-based joint venture of NAS Invest and BlueRock Group, just acquired another two properties for its “BR-NAS German Mittelstand Properties SLP-SICAV” investment fund. Both properties – one being located in Hanover, the other in Berlin – are office and medical centres of the core-plus category.
The property in Hanover lies in the Wülfel district and thus in immediate proximity to the Hanover fairgrounds. Raised in 1994, the building has a gross lettable area of around 9,100 square metres, and a mixed tenant structure.
The building in Berlin represents an office scheme of around 5,000 square metres in the borough of Tempelhof-Schöneberg, and is fully occupied. The tenant structure is highly diversified, as the currently 21 occupiers include companies of various industries along with doctors’ offices and institutions.
„We are very pleased to have acquired another two attractive buildings at favorable terms in a highly competitive market environment. Our longstanding network in the German real estate market enables us to benefit from exclusive purchasing opportunities across the country”, says Julian Reinecke, Managing Partner responsible for transactions and asset management at NAS Real North-East.
“The location and character of the buildings, and above all the broad tenant structure with its many medium-sized enterprises offer a high diversification of our fund’s rental cashflow. Now, the portfolio covers six different metropolitan areas with more than 80 tenants from ten different industries,” said Nikolai Dëus-von Homeyer, Managing Partner of NAS Invest. The two purchases bring the portfolio of the “BR-NAS German Mittelstand Properties SLP-SICAV” fund up to a volume of 85 million euros.
The fund focuses on commercial real estate occupied by mid-market companies in a broadly diversified tenant mix, offering both a sound risk/reward profile and a stable cash flow. It gives qualified investors from inside and outside Germany a chance to access a diversified portfolio in office real estate across Germany, and has a target volume of 250 to 400 million euros.
As a property investor and investment manager with a historically proven track record, NAS Invest sources, structures and manages real estate investments in the role of General Partner and Sponsor for its co-investing institutional and semi-institutional clients. Via its offices in Berlin, Frankfurt, Copenhagen, Luxembourg and Zurich, the main investment focus for NAS Invest lies in commercial real estate opportunities located in the most rapidly developing cities and metropolitan areas in Germany and Northern Europe.
More information may be found at: www.nas-invest.com