act legal Germany advises Tristan Fund on the acquisition of a five-storey office with a nine-storey tower section for around €64 million. The property with a rental area of around 24,000 m² is located in Heidelberg’s Bahnstadt, which is the town’s most established central business district. In addition, research and development areas are available in three separate halls. Tristan Capital Partners aquired the commercial property from Roland Ernst Grundstücks-Fonds 8 GmbH & Co. KG, Heidelberg – a former Falk-fond company.
Constantin Plenge, Executive Director at Tristan, said in Tristan’s press release: “Heidelberg is a very attractive office market for Tristan’s institutional investor clients, as in recent years the city has been characterised by low vacancy rates, robust rental growth and rising capital values. This investment is located in the prime office district and offers significant opportunities to add further value through active asset management.”
The transaction was structured as an asset deal. One of the main difficulties of the transaction was that one of the anchor tenants in the property had a right of first refusal on two of the three halls, which he has since exercised, which now requires a division of the complex technical infrastructure of the property.
The team of act legal Germany, AC Tischendorf, was headed by Dr. Tara Kamiyar-Müller and Dr. Matthias Müller, MBA, who were supported by Jessica Zenz-Spitzweg.