PropertyEU - January 16, 2009
Germany's Real I.S. said it has acquired a property in the Julian Camarillo office district of Madrid in a EUR 28 mln sale and leaseback with IT company Firma Atos Origin. The asset is earmarked for the institutional investment fund BGV Bayerische Grundvermögen III SICAV FIS. The four-storey building has a rentable surface of 8,000 m2, and an underground parking garage with 92 spaces. The property is fully leased.
Real I.S. is the Munich-based subsidiary of Bayern LB. This is the fifth investment made by the company on behalf of its institutional fund.
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