Germany's BC Partners Real Estate (BCPRE) has acquired an existing light industrial building leased by Infineon Technologies, alongside a neighbouring site it already owns. The seller of the existing building is WP Carey.
BC Partners will team up with Garbe Institutional Capital as operating partner to further develop and manage the investment. The site, located in Warstein, North Rhine-Westphalia, will be further developed to include a new building in timber hybrid construction to KfW 40 standard, aiming for BREEAM Excellent certification.
Both the existing building and development project will be leased by Infineon for 25 years with inflation-indexed and triple-net leases, starting upon the completion of the development. While BCPRE is providing equity and operational expertise, Garbe is expected to bring asset and development management skills to the investment. Infineon Technologies is a DAX40-listed semiconductor company with more than 55,000 employees worldwide. The doubling of space to 20,000 m2 will enable Infineon to further expand its strong growth at the Warstein site to over 2,200 employees including 600 engineers.
Source: https://propertyeu.info/Nieuws/BC-Partners-acquires-Warstein-site-joins-with-Garbe-on-redevelopment/fb77380c-5cdf-440d-8f77-e30cc9df0f8a, on 7.12.2023.