RE Capital concludes sale of one of its prime properties in Germany
We are pleased to report that, in September 2021, despite the challenging COVID environment, we have concluded the sale of one of the prime and iconic properties in our investment portfolio, IBM’s European headquarters in Germany.
A strategic investment originally acquired for an attractive purchase price, the property was held by RE Capital for 9 years, generating a strong and stable cash flow.
RE Capital maximised the potential of the property thanks to our asset management strategy over the hold period, which has driven its performance and enhanced the building’s presence in Ehningen. Having met our investment target, we are delighted with the value growth and returns we have delivered to our clients.
Located in Ehningen, 25 km from the centre of Stuttgart, the property consists of a complex of three office buildings. Two of the buildings were constructed in 1986 and completely refurbished to the highest standard in 2009. The third building was constructed in 2009. The property is a cluster of high-end office buildings with approx. 35,500 sqm of lettable space and 1,600 parking spaces. Adjacent to the property lies IBM’s Innovation Centre.
“We have a strong track record in delivering high income and capital growth for our clients,” said Newman Leech, CEO of RE Capital. “With our deep knowledge and expertise in the UK and Europe, along with our on the ground teams, we pride ourselves on continuing to deliver unique, and strategic opportunities to our investors.”