BEOS AG
Jan Plückhahn - BEOS AG
According to BEOS board member Jan Plückhahn, “The sites integrate seamlessly into the existing portfolio of CREFG III and form a solid basis for further investment in the region.”
German industrial specialist BEOS has bought a portfolio of six German business parks including a cross-dock in the Rhine-Ruhr area and Hamburg for €54.2m. The assets will be added to the Berlin-based company's open-ended AIF BEOS Corporate Real Estate Fund Germany III (CREFG III), which has a €1bn target volume.
The portfolio was acquired from UK logistics REIT Segro, said BEOS in a press release. The business parks are located in high-traffic arease in Essen (16,400 sqm), Hamburg (12,300 sqm), Mönchengladbach (11,100 sqm), Neuss (8,700 sqm) and Krefeld (7,600 sqm), while the 2,600 sqm cross-dock is located in Koblenz.
About 37% of the total gross lettable area (59,000 sq.m.) is offices, 57% storage and 6% production space. All assets were built in the 2000s and have a combined weighted remaining lease term of 3.3 years and an occupancy rate of 90%. Beos said that it is in advanced lease negotiations and expects the rate to increase soon.
According to BEOS board member Jan Plückhahn, “The sites integrate seamlessly into the existing portfolio of CREFG III and form a solid basis for further investment in the region.”
Founded in 1997 by Stephan Bone-Winkel, the independently-owned BEOS manages 2.2m sqm of lettable industrial real estate worth €2.2bn with 120 staff and offices in Berlin, Hamburg, Frankfurt, Cologne, Munich and Stuttgart. The company launched its first €400m industrial property fund in 2010, followed by a €700m successor fund in 2012, and then CREFG III with €1bn target volume in 2015. The funds are all administered on the Service-KVG IntReal platform.
