Investment manager KGAL has added a timber-hybrid building to its German office portfolio.
The €16 billion manager has invested an unspecified sum to buy the 5,300 square meters PLATINUM building in Wiesbaden developed by OFB.
Construction of the timber-hybrid PLATINUM building concluded in 2023.
KGAL said a long-term rental agreement with Hessen Agentur, a state-owned entity, provides secure, consistent cash flow for the asset.
Source: realassets.ipe.com on the 14th of August