PIC REAL ESTATE GmbH ("PIC Real Estate"), a joint venture company of Pegasus Capital Partners GmbH (Pegasus) and PIC Capital Partners GmbH ("PIC"), acquires the centrally located Humboldt Business Park in Nuremberg from Siemens Technopark GmbH & Co. KG, an investment company of SIEMENS AG.
Pegasus is responsible for structuring the financing, while PIC is responsible for deal sourcing and managing the operational implementation and repositioning of the site. The total investment volume is in the mid-double-digit million range. The debt financing is provided by a consortium of VR TeilhaberBank Metropolregion Nürnberg eG and VR-Bank Mittelfranken Mitte eG.
The joint venture partners intend to develop the site in a targeted manner over the coming years and make optimal use of the existing space potential. The project period is designed for about five years.
"With the Humboldt Business Park, we are investing in an excellently connected and future-proof commercial area in the middle of our strong economic region," says Andreas Kurzer, Managing Director of PIC. "Nuremberg's Südstadt is on the move and is developing into a hotspot that combines centrality, culture and quality of living in the best urban tradition. To be able to acquire such a large contiguous property in such an environment is absolutely rare and shows the strong network of PIC Real Estate in the domestic market."
Martin Führlein, Managing Director of Pegasus, explains: "The location impresses with its central location, proximity to the main train station and the environment of fast-growing technology world market leaders and research institutions. Through PIC Real Estate, we will gradually modernise the Humboldt Business Park and position it as an attractive location in the centre of Nuremberg in the long term." The joint venture is supported by Pegasus' asset and property management team, which will take over the management of the site during the project period.
The site is located in the Steinbühl district of Nuremberg, south of the main train station and in the immediate vicinity of the Aufsessplatz. With a site area of around 31,500 square metres and a total lettable area of around 32,000 square metres, the ensemble comprises five buildings that are currently let to various well-known users from business and science.
Siemens Technopark GmbH & Co. KG was advised on legal and tax matters in the transaction by KPMG Law Rechtsanwaltsgesellschaft mbH under the leadership of attorney Dr. Nadine Queck. PIC Real Estate was legally advised by Rödl & Partner under the leadership of Partner Attorney at Law (New York) Harald Reitze LL.M. The acquisition was brokered under the responsibility of Harald März from the Nuremberg office of Colliers International Deutschland GmbH.
