Investcorp, Bahrain’s leading global manager of alternative investment products, has sold its long leasehold interest in Burocampus Wangen (the Campus) in Stuttgart, Germany to Art-Invest Real Estate.
The company purchased the freehold interest in the Campus in 2018 from BEOS Corporate Real Estate Fund Germany I, managed by BEOS, leading asset manager and project developer of corporate real estate in Germany. Upon acquisition, Investcorp restructured the title and sold the freehold to an institutional investor, retaining the long leasehold interest. The deal marks Investcorp’s first continental European exit and the latest step in the firm’s broader pan-European real estate strategy.
Located in the Stuttgart submarket of Wangen, the multi-let commercial campus is comprised of 12 office and research buildings and one DIY store across a 15-acre plot.
The Campus features good-quality office buildings, state-of-the-art research and development, data centers, a restaurant, and conference rooms. It is home to several well-known tenants, predominantly in the technology and automotive sectors.
“We are delighted to have marked our first European real estate exit since we entered Europe in 2017. This is a true testament to our continued execution on our strategy to target attractive, stable real estate assets in markets underpinned by strong fundamentals, where we can seek to create value for all our stakeholders.”
Mr. Yusef Al Yusef, Managing Partner for Investcorp’s Private Wealth, said, “We are pleased with the progress we are making to expand our real estate portfolio across geographies and marking our first European exit as we advance with our strategy. Looking ahead, we will continue to identify opportunities with the potential to drive value for our clients and grow our footprint across Europe.”
Investcorp has invested approximately $1.17 billion into 80 properties across the UK, Germany, The Netherlands, Italy and Belgium, since launching its European real estate business in 2017.