Real I.S. has divested the “Ernst-August-Carree”, a listed office and commercial building in Hanover, from the portfolio of its real estate special AIF “Real I.S. BGV V”. The new owner of the property is GETEC ENERGIE Holding GmbH. The parties have agreed not to disclose the financial terms of the transaction.
The property, built in 1870, is a multi-tenant asset with a total rental area of approximately 7,120 square metres. It is characterised by its neoclassical architectural style and prominent design. The property is located in a central position in the state capital of Lower Saxony and boasts high occupancy.
Real I.S. acquired the “Ernst-August-Carree” in 2013 and has been responsible for its active management since then. Franz Krewel, Member of the Management Board of Real I.S. AG, commented on the completion of the transaction. He emphasised that the local market access and regional network of the investment management significantly contributed to the successful sales process. This market opportunity was leveraged as part of a value-oriented divestment strategy for the benefit of investors.
Background and Parties Involved
Real I.S.’s real estate special AIF “BGV V” pursues an investment strategy focused on sustainable core properties within the Eurozone. The portfolio includes properties in a number of European countries, including Germany, the Netherlands, Ireland, Luxembourg and France. This strategic alignment underscores the focus on stable and valuable investments.
Legal and tax advice for this transaction was provided by the law firm GÖRG, based in Hamburg. The international real estate consultancy JLL was commissioned with marketing the property. The collaboration of these specialised service providers ensured a professional execution of the sales process.
- —Property: Ernst-August-Carree, Hanover
- —Property Type: listed office and commercial building
- —Year of Construction: 1870
- —Rental Area: approx. 7,120 square metres
