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Arab Investments Limited
11 Berkeley Street,
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W1J 8DS

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Topic: General News - Publication: Wallstreet-online.de

German Growth Portfolio II Aquired

    Several subsidiaries of the Bauwert Property Group, Berlin have sold the German Growth Portfolio II in form of a mixed share / asset deal to one of investment funds managed by Arab Investments Ltd. located in London. The transaction volume amounts to about 50 million euro.

    The property portfolio consists of 3 office buildings that are currently under construction at prime locations of Berlin, Karlsruhe and Wuppertal. The three project developments have a total letting space of about 14,800 m² with more than 10,000 m² retail space. The prior occupancy rate of the premises is at 55 %.

    This acquisition has enabled Arab Investments to enlarge the portfolio of the first German fund to 300 million euro. This fund is supposed to be closed by the end of the year.

    Salans LLP, Berlin was the consultant of the Bauwert Property Group for this transaction. The purchaser was advised by Görg Partnerschaft (partnership of lawyers), Berlin and Savills, Berlin.

    The German Growth Portfolio I with an investment volume of more than 200 million euro was already sold with success to the AMB Generali Group in 2004.