Tristan Capital Partners’ core-plus CCP 5 Fund and DW Real Estate have completed the sale of a multi-purpose, multi-let high-quality office building in the south-western German city of Heidelberg to Patrizia.
The c. 26,000 square metres property, situated in the Bahnstadt submarket benefits from its prime location in the town’s most established business district and within what has been designated as an ‘Integrated Campus of Knowledge’ due to the close proximity of a number of established research and development companies.
Tristan and DW Real Estate undertook a comprehensive refurbishment of the complex including the significant upgrading of the common areas and lobby space, which was leased to a café operator, and the conversion of the former canteen and auditorium into modern Grade A office and meeting spaces. Environmental improvement works were also undertaken resulting in a BREEAM In Use rating of “Very Good”.
Tristan Capital Partners and DW Real Estate were advised by BILLIONP Paribas Real Estate, Greenberg Traurig and PWC.
Source: tristancap.com on the 22nd of February
https://www.tristancap.com/news-and-media/press-releases/tristan-fund-sells-german-office-building