LaSalle acquires Westend Yards office asset from PGIM

LaSalle acquires Westend Yards office asset from PGIM

Published at: 2019-04-03 10:59 | Author: CIJEurope.com
PGIM Real Estate has sold Westend Yards in Munich to LaSalle Investment Management. The a 32,000 sqm building was the last of three properties acquired in 2016 to have been disposed. The other two buildings were sold in September 2017 and in April 2018. “The sale of the Triple portfolio represents the successful deployment of PGIM Real Estate’s strategy to uncover value in non-CBD office locations across Europe, particularly in Germany,” said Sebastiano Ferrante, the head of Germany and Italy for PGIM. “In many of Europe’s major office markets, factors such as rising demand, low supply growth and falling vacancy—along with an ageing profile of existing stock—point to the ongoing attractiveness of strategies that seek to create value through active asset management or repositioning strategies.”

Similar Stories:

Szczecin’s total office stock tops 161,000 sqm
The total office stock in Szczecin has topped 161,000 sqm, most of which is located in the  »
Katowice’s total office stock reaches 528,000 sqm
Katowice’s total office stock grew 10 percent over the year to nearly 528,000 sqm at the  »
Duna investing €1.2m in Skopje administrative center
Duna broke ground on an administrative, development and logistics center in Skopje. The co  »
Svoboda & Williams Mediated the Lease of 2,952 sq. m. of Office Space for the C2H Investment Group
The Nile House office building, which offers 19,000 sq. m. of administrative space, is now  »
With demand for modern office space in Athens growing on a daily basis, developers and inv   »
HB Reavis broke into the big leagues by being aggressive on rents, building office space t   »
How would you describe the tenant mix at Mindspace? Co-working is a solution that takes i   »
You’re part of the HB Reavis group, which is an increasingly powerful player in office d   »