has bought an office building in Germany on behalf of one of its clients.
The 拢355bn (鈧�401bn) global asset manager has paid an undisclosed amount to buy the Roteb眉hlstrasse 121 office building in Stuttgart.
The fully-let asset, built in 1994, offers 14,750sqm of flexible office space and lettable space.
Gr茅goire Bailly-Salins, head of transactions Continental Europe, said Stuttgart is a city with strong knowledge-intensive business activity and demographics, coupled with some significant constraints on new development, putting a hard limit on the office supply.
鈥淲e believe this will lead to sustained rental growth in the long run, with assets such as Roteb眉hlstrasse 121.
鈥淲e are pleased to grow our investment footprint in Germany, on behalf of our clients, which remains a strategic target market for us.鈥�
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