HIH Invest Real Estate (HIH Invest) has acquired an office building at Albert-Einstein-Strasse 2 in Osnabrück, Lower Saxony. The DGNB Platinum certified office building, built in 2014, has 3,222 square metres of total lettable space spread over three full floors. In addition, there are 90 parking spaces and five charging stations for electric cars, each with two charging points. A photovoltaic system on the roof covers almost the entire electricity consumption of the building.
The seller is pbr Planungsbüro Rohling AG (pbr AG), which is leasing back its headquarters via a triple-net lease with a 15-year term. The architecture and engineering firm has been planning construction projects in the public and private sectors with over 500 employees nationwide since 1960. “The long-term lease with a renewal option for two five-year terms provides us with stable and value-protected rental income. At the time, pbr AG not only designed the building for its requirements and needs as a corporate headquarters, but also planned it in such a far-sighted way that the property can also be excellently used by third parties and can also be used by several tenants,” says Daniel Asmus, Team Leader Transaction Management Office Germany at HIH Invest.
The property was acquired for the special AIF “Deutschland Selektiv Immobilien Invest II”, which pursues a strategy in accordance with Article 8. The fund is still open for investor money and is also in the investment phase. The focus is on energy-efficient office properties in attractive locations in German growth cities and in the top 7 locations. Due to the attractive initial portfolio, the fund already offers a distribution yield of more than 4.5% p.a. In the future, a distribution yield of more than 5.0% p.a. is to be achieved through further acquisitions, among other things. Institutional investors can participate in the fund from a sum of 5 million euros.
“The purchase in Osnabrück shows the potential that can be found in C-cities. The office market in the university city of Osnabrück has very good fundamentals, in particular low vacancy and constant excess demand. In recent years, construction has been very demand-oriented and not very speculative,” Daniel Asmus continues.
The purchased property is located in the approx. 9.0 hectare Osnabrück Residential and Science Park in the Westerberg district. The university and the college as well as numerous innovative and technology-oriented companies are located here. The main railway station can be reached in ten minutes by car, Münster-Osnabrück airport in 30 minutes.
The legal and tax due diligence was carried out by the law firm Baker Tilly, the technical due diligence by Drees & Sommer. Lütgen Breiholdt Immobilien acted as estate agent.
