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Khulood Ebrahim and Yusef Al Yusef.

Investcorp announces first European real estate exit

MANAMA, October 20, 2021

Investcorp, a leading global provider and manager of alternative investment products, has announced that it has sold its long leasehold interest in Bürocampus Wangen (the Campus) in Stuttgart, Germany to Art-Invest Real Estate. 
 
This transaction marks Investcorp’s first continental European exit and the latest step in the firm’s broader pan-European real estate strategy. 
 
Since launching its European real estate business in 2017, Investcorp has invested €1 billion ($1.16 billion) into 80 properties across the UK, Germany, The Netherlands, Italy and Belgium.
 
The Bahrain-based group had acquired the freehold interest in the Campus in 2018 from BEOS Corporate Real Estate Fund Germany I, managed by BEOS. Upon acquisition, the firm had re-structured the title and sold the freehold to an institutional investor, retaining the long leasehold interest.
 
Located in the Stuttgart submarket of Wangen, the multi-let commercial campus comprises 12 office and research buildings and one DIY store across a 15-acre plot, providing a total area of 550,000 sq ft, said the statement from Investcorp. 
 
The Campus features good quality office buildings, state-of-the-art research and development, data centres, a restaurant, and conference rooms. It is home to several well-known tenants, predominantly in the technology and automotive sectors, it added. 
 
On its strategic move, Khulood Ebrahim, Real Estate Product Specialist, said: "We are delighted to have marked our first European real estate exit since we entered the region in 2017. This is a true testament to our continued execution on our strategy to target attractive, stable real estate assets in markets underpinned by strong fundamentals, where we can seek to create value for all our stakeholders."
 
The sale marks a period of significant investment activity for Investcorp, having acquired £56.7 million of UK industrial assets and an office in Milan for €70 million since the beginning of September.
 
Yusef Al Yusef, the Managing Partner for Investcorp’s Private Wealth, said: "We are pleased with the progress we are making to expand our real estate portfolio across geographies and marking our first European exit as we advance with our strategy."
 
"Looking ahead, we will continue to identify opportunities with the potential to drive value for our clients and grow our footprint across Europe," he added.-TradeArabia News Service



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