La Française Real Estate Managers said on Thursday that it has acquired its first life science property in Germany from a closed-end net lease fund advised by Crescendo Real Estate Advisors.
The property, which was bought on behalf of one of La Francaise’s real estate investment vehicles, is located in the Eurocom Business Park, southeast of Nuremberg.
The prestigious and almost completely glazed 6-story light industrial and office building was used in 1995/1996 as the central administrative headquarters and warehouse/logistics location of the Nuremberg textile retailer Wöhrl. After insolvency and move-out of the previous owner, the building was completely renovated in 2019/2020 as the new global headquarters and development production site of the medical technology company Ziehm Imaging. In addition to the global headquarters, Ziehm operates the manufacturing of state-of-theart X-ray equipment in the building.
The light industrial and office building is fully leased, with Ziehm Imaging occupying the main part of the building. Mark Wolter, managing director of La Française Real Estate Managers Germany, commented: ‘This acquisition is perfectly in line with our strategy to diversify our German real estate portfolio regionally as well as by type of use, always paying special attention to ESG criteria. We are positive about the long-term attractiveness of the property itself, the asset class and the location'.
Source: property.eu on the 8th of September 2022
https://propertyeu.info/Nieuws/La-Franaise-snaps-up-1st-life-science-property-in-Germany/0a4af7d1-7d16-45c8-a91c-71d0db8a9f2f