- Asset comprises 25,960 sq m of versatile office and laboratory space
- Investment provides diverse income stream with 95% of the property let to strong tenants and a remaining lease term of almost eight years
- Property is located in a prime location in Bahnstadt, a flourishing and dynamic submarket of the university town of Heidelberg
Augsburg, 22 February 2022. PATRIZIA AG, a leading partner for global real assets, has completed the acquisition of a prime office building in Heidelberg from Tristan Capital Partners’ CCP 5 LL fund and DW Real Estate, on behalf of its clients.
Located on Speyerer Street in Heidelberg, the BREEAM ‘very good’ property offers c. 25,960 sq m of office and laboratory space as well as a fitness studio and c. 450 underground parking spaces for occupier use. The office space is 95% let to a range of strong occupiers and divisible into small office units of approximately 340 sq m, maximising flexibility for occupiers. The WALT amounts to almost eight years.
Located on one of Heidelberg’s main roads near to the city’s main railway station, the asset is part of Heidelberg’s Bahnstadt district, a flourishing and dynamic submarket in Germany’s oldest university town. Heidelberg’s prestigious university and its strong transport links contribute to the city’s popularity with students and young professionals, driving demand for high-quality, sustainable office space.
Uwe Hettwer, Associate Director Transactions at PATRIZIA, commented: “Heidelberg enjoys high demand for modern, amenity-driven office space owing to its large population of graduates and young professionals. This property in the heart of Heidelberg’s bustling Bahnstadt district benefits from its proximity to national transport links, walking distance to the main station and several companies from the bio science sector in the Bahnstadt submarket. Strong sustainability credentials and amenities boost the asset’s appeal to occupiers, while its existing mix of tenants and high occupancy offer a reliable income stream.”
PATRIZIA: A leading partner for global real assets
With operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 38 years. PATRIZIA manages more than EUR 50 billion in assets and employs over 900 professionals at 26 locations worldwide. Through its PATRIZIA Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped around 250,000 children in need worldwide gain access to education and thus, has given them the chance of a better life over the last 22 years. You can find further information at www.patrizia.ag
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