BEOS AG, a subsidiary of Swiss Life Asset Managers, has sold a fully let business park in Essen. The property, located on Westendstraße, had been part of the portfolio of the specific real estate fund "BEOS Corporate Real Estate Fund Germany III" ("CREFG III") since 2017. The buyer of the property is Lagerhome, GREYKITE's multi-tenant industrial platform, in cooperation with troveinvest. Details of the purchase price were not publicly disclosed.
The business park, completed in 2008, comprises a total rental area of approximately 16,500 square metres. On the approximately 22,900 square metre plot, there are an additional 184 parking spaces. Throughout the fund's holding period, the property was characterised by almost full occupancy, which was maintained through targeted management measures and the re-letting of two units last year.
During the period of ownership, continuous development of the property took place. This included various investments in technical infrastructure and modernisation. Measures undertaken included, for example, the improvement of energy efficiency, the renewal of emergency lighting, the installation of split air conditioning units, and further measures to increase building and roof safety. These activities underscore a proactive management of the property.
Michael Kapler, Head of Portfolio Management at Swiss Life Asset Managers in Germany and a member of the BEOS board, pointed out that this sale reflects the active asset management approach and consistent portfolio steering of the "CREFG III". The continuous further development of the location in conjunction with the high occupancy rate contributed to the realisation of additional value creation for the fund's investors.
The transaction, for which RUHR REAL provided advisory services, is part of the strategic portfolio optimisation within the framework of "CREFG III". This open-ended real estate special AIF focuses on corporate properties in Germany, particularly modern business parks as well as logistics, production, and service properties with a diversified tenant structure in economically robust regions. The fund is managed by the service KVG INTREAL.
