New Beos fund acquires corporate real estate from Aurelis


Just recently launched, the first billion-dollar corporate real estate fund of Beos and Swiss Life has already been invested on a large scale. The initial portfolio is called “Laetitia” and comprises 32 properties with around 538,000 sqm and a rental volume of €38mn, which will be taken from Aurelis. Market insiders quote a purchase price of just below €630mn. The properties are located in the Hamburg, Hanover, Berlin, Rhine/Ruhr, Rhine/Main and Munich regions as well as in various locations in Baden-Württemberg including Hockenheim and are 95% let with an average remaining term of five years. Aurelis will continue to manage them for the time being. The bidding process was started in the summer with Rothschild, Clifford Chance and Greenberg Traurig involved in the deal as consultants. Plans for the new open-ended Beos fund CREFG IV with a target volume of €1.1bn (€630mn of which is equity capital) and between 5.5 and 6% annual distribution were announced at Expo Real.

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