Tristan-advised fund buys Bonn offices

Tristan-advised fund buys Bonn offices

Published at: 2017-12-06 09:01 | Author: CIJ Europe
The CCP 5 ‘long-life’ core-plus fund, advised by Tristan Capital Partners, has made its first investment in Germany with the acquisition of an office complex in the German city of Bonn occupied by Deutsche Telekom for around €35 million in an off-market deal. The seller was a fund managed by Art Invest Real Estate. Ali Otmar, Senior Partner and Deputy Head of Investments at Tristan Capital, said the fund managed to acquire the asset on attractive terms "without having to go through the structured auction processes that typically drive sales of this kind of an asset in Germany." Tristan's German joint venture operating partner, Silver Cloud Invest, also played an important role in the transaction and will be co-investing in the deal alongside CCP 5. Deutsche Telekom occupies the entire 18,658 sqm office complex in the Bundesviertel area of Bonn. Tristan claims the city offers a 2.7 percent vacancy rate and a limited pipeline of new supply. Tristan was advised on the transaction by e_con realestate, Greenberg Traurig and CBRE PREUSS VALTEQ, while Art-Invest Real Estate was advised by Taylor Wessing.

Similar Stories:

Two new tenants moves to Wilanów office complex
Two new tenants took nearly 4,000 sqm at Wilanów office complex in Warsaw. A company spec  »
Building N1 of Coresi Business Park fully leased
Building N1, part of the second phase of Coresi Business Park in Brasov, is currently full  »
CBRE opening new office in Brno
Czech Republic  ♦  CBRE opening new office in Brno
CBRE has opened a new office in Brno, a move it claims is the first by an international re  »
NewWork opens first location in Poland
NewWork, a serviced office operator from Hungary, took 3,200 sqm of flexible space at Wila  »
Shopping centers accounted for 134,000 sqm of the growth. The biggest projects delivered i   »
Portland Trust has begun construction on Building C, the final phase of Oregon Park. A sig   »
Ghelamco has sold building B of the Warsaw Spire office complex for €100 m. The buyer of   »
While the development of fully mixed projects remains rare (few developments include a res   »