The CCP 5 ‘long-life’ core-plus fund, advised by Tristan Capital Partners, has made its first investment in Germany with the acquisition of an office complex in the German city of Bonn occupied by Deutsche Telekom for around €35 million in an off-market deal. The seller was a fund managed by Art Invest Real Estate. Ali Otmar, Senior Partner and Deputy Head of Investments at Tristan Capital, said the fund managed to acquire the asset on attractive terms “without having to go through the structured auction processes that typically drive sales of this kind of an asset in Germany.” Tristan’s German joint venture operating partner, Silver Cloud Invest, also played an important role in the transaction and will be co-investing in the deal alongside CCP 5. Deutsche Telekom occupies the entire 18,658 sqm office complex in the Bundesviertel area of Bonn. Tristan claims the city offers a 2.7 percent vacancy rate and a limited pipeline of new supply. Tristan was advised on the transaction by e_con realestate, Greenberg Traurig and CBRE PREUSS VALTEQ, while Art-Invest Real Estate was advised by Taylor Wessing.
