Valad Europe, an independent diversified real estate investment manager, has sold Fuhrberger Straße 5 in Hannover to a private investor.
The multi-storey office building comprises 3,300 square metres of space let to long-term occupier, PricewaterhouseCoopers AG, until 2021.
Located in the district of Kleefeld, to the west of the city centre, the office block offers excellent access to Messeschnellweg and the A7 and A2 motorways.
Andreas Hardt, Valad Europe’s head of Germany, says: “We are pleased to have completed the sale of Fuhrberger Straße 5. The decision to sell this office building is in line with both the business plan for the asset and the wider strategy for this particular workout mandate. As demonstrated with other transactions this year, active trading of assets forms part of our value-adding strategy, where the ability to sell at the right time is equally as important as being able to buy at a good yield. We are currently looking to take advantage of opportunities arising in the German market to purchase good value, high quality, leasable assets with strong covenants and limited leasing risk.”
FIH Fürst Immobilien Hannover GmbH advised Valad Europe on the sale.