Real I.S. has sold the approximately 7,120 square metre "Ernst-August-Carree" office and commercial building in Hanover for the special real estate AIF "Real I.S. BGV V". The buyer of the property is GETEC ENERGIE Holding GmbH. The purchase price was not disclosed. Real I.S. acquired the property in 2013 and actively managed it over the investment period.
"The decisive factors for the successful sale process were our local market access and the networking of our investment management in the region. As part of a value-oriented divestment strategy, we were therefore able to take advantage of this market opportunity in the interests of our investors," says Franz Krewel, Member of the Board of Management of Real I.S. AG.
The "Ernst-August-Carree" is a listed office and commercial building from 1870. The multi-tenant property has a total lettable area of 7,120 square metres and is characterised by its neoclassical architectural style and representative architecture. The property, which is almost fully let, is centrally located in the capital of Lower Saxony.
The legal and tax advice on the transaction was provided by GÖRG in Hamburg. JLL was commissioned to market the property.
The real estate special AIF "BGV V" invests in sustainable core real estate within the Eurozone. The portfolio includes properties in Germany, the Netherlands, Ireland, Luxembourg and France.
