Valad Europe has purchased a portfolio of six office buildings comprising in 35,860 sqm for its Valad European Diversified Fund (VEDF). Four of the properties are located in Nuremberg, while one each are in Cologne and in Hamburg. The portfolio is let to 44 tenants including Nash Technologies, Hochtief, Alstrom, Dussmann, L&P Automotive, and Bundesagentur fĆ¼r Arbeit.
āThis is our sixth acquisition for VEDF in Germany this year, where we have invested or committed around ā¬130m so far. This latest portfolio of assets is in strong locations, in major German cities, with value-add potential through asset management initiatives such as void reduction and extending existing leases. We believe the German office sector continues to offer good value due to the strengthening occupier market and current low level of development activity,ā said Danilo Hunker, Vlad Europeās Head of Asset Management in Germany.
