Investcorp announces first European real estate exit with sale of Bürocampus Wangen

Manama, Oct. 19 (BNA): Investcorp, a global provider and manager of alternative investment products, today announced that it has sold its long leasehold interest in Bürocampus Wangen (“the Campus”) in Stuttgart, Germany to Art-Invest Real Estate. The transaction marks Investcorp’s first continental European exit and the latest step in the firm’s broader pan-European real estate strategy. Investcorp acquired the freehold interest in the Campus in 2018 from BEOS Corporate Real Estate Fund Germany I, managed by BEOS. Upon acquisition, Investcorp re-structured the title and sold the freehold to an institutional investor, retaining the long leasehold interest. 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, providing a total area of c.550,000 sq ft. The Campus features good quality office buildings, state-of-the-art research and development, data centres, 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,”Khulood Ebrahim, Real Estate Product Specialist at Investcorp, said. “This transaction underscores our ability to identify and execute on attractive investment opportunities to deliver value for our clients. We are pleased to have completed this successful exit, generating strong returns amidst a challenging economic environment,”Mohamed Al Sada, Head of Bahrain and Kuwait for Investcorp’s Private Wealth said. Since launching its European real estate business in 2017, Investcorp has invested approximately €1 billion into 80 properties across the UK, Germany, The Netherlands, Italy and Belgium.