French mutual fund SCPI Transitions Europe has bought the HENRI office and laboratory building in Erlangen, Germany, for €12 million.
The HENRI has a total gross floor area of 5,180 square meters and is leased long-term to a leading international life science company. It is at the southern end of the Siemens Campus, south of Erlangen city center.
The seller of the HENRI office and laboratory building is Jersey-based Le Masurier. It was advised by Savills. Le Masurier is one of Jersey’s oldest and largest commercial property companies with property investments throughout the UK and Jersey. HENRI was the last German property in its portfolio.
SCPI Transitions Europe is managed by Arkéa Real Estate Investment Management. It was advised by Sienna Investment Managers.
Gavin Booth, Head of Group Property at Le Masurier, says, “The property represented a successful long-term investment for our company. With the sale, we now complete our strategic withdrawal from the German market.”
Philipp Traumann, Associate Director Investment at Savills Germany, says, “The Siemens Campus in Erlangen is currently in an exciting restructuring phase and we are pleased that we were able to successfully complete this transaction for our customer. French SCPIs are currently one of the most active buyer groups in Germany and are increasingly looking for properties with longer rental contracts in A, B and C cities throughout Germany.”
