Fund manager Union Investment Real Estate has acquired the Weser Tower building in Bremen. The seller is the developer, Siedentopf, who was advised by JLL in the transaction. It’s Union Investment’s first office acquisition in Bremen. The company revealed that it intends to increase the level of its purchasing activity in Germany’s mid-size cities, with a focus on office and commercial buildings in the €15m to €50m range. The 82-meter high Weser Tower was designed by the American architect Helmut Jahn and offers 18,000 sqm. It was completed in 2010. Among its principal tenants are subsidiaries of the power supplier EWE.
