Frankfurt, 17 March 2023. A joint venture between NAS Invest and BlueRock Group has sold eight office properties to IMAXXAM, successfully completing the repositioning of the 76,000 m² portfolio. The seller was exclusively advised on the transaction by JLL as well as by Mittelstein (legal) and Arcadis (technical due diligence).
The portfolio was compiled by NAS Invest and BlueRock Group between 2017 and 2018. It encompasses properties in Berlin, Dresden, Dortmund, Essen, Hamburg, Hanover, Karlsruhe and Walluf near Wiesbaden. Tenants include small- to medium-sized companies from the IT and life sciences sectors, government offices, and major corporations such as Siemens. The joint venture partners have used their expertise to stabilise the portfolio’s cash flows and achieved substantial property value increases through capital expenditure, significant vacancy reductions, and rent increases. Through the joint venture’s ESG efforts, the portfolio has also been well-prepared for the path toward climate neutrality.
The portfolio’s average occupancy rate is currently more than 97% with an average remaining lease term (WALT) of more than four years, or more than eight years with renewal options. IMAXXAM will contribute the actively managed portfolio to several institutional funds and plans to tap further potential for value growth through additional ESG measures.
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