Union Investment buys office property in Bad Homburg
Warburg-HIH Invest Real Estate (Warburg-HIH Invest) has sold an office property located at Horexstraße 7 in Bad Homburg, Hesse, to Union Investment. The single-tenant building has approx. 6,750 sqm of lettable space and was acquired for a pan-European Spezial AIF in 2014, the year of its completion. It is currently leased to the IT service provider Dimension Data until 2024. The asset deal was brokered by BNP Paribas Real Estate as part of a structured sale process. The seller was advised in legal matters by the Frankfurt office of Clifford Chance, while the law firm KFR Kirchhoff Franke Riethmüller advised the buyer.
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