Union Investment acquires Erlangen office complex
Union Investment has acquired Module 2 of the Siemens Campus in Erlangen via a club deal. The site is the largest and most modern Siemens location worldwide. The acquisition is being made for an investment fund established to meet the needs of four institutional investors, for special real estate fund UII EuropeanM and institutional real estate fund UniInstitutional German Real Estate. Union Investment is taking a 60% stake in the property company, with Siemens retaining the remaining 40%. The purchase...