BC Partners Real Estate (BCPRE) has teamed up with Institutional Capital to develop a research and development property in Germany.
BCPRE has acquired an existing building leased by Infineon Technologies in Warstein, North Rhine-Westphalia from WP Carey. Additionally, BCPRE has purchased a neighbouring site owned by Infineon Technologies. Financial details were not disclosed.
BCPRE said it has partnered with Garbe as operating partner to further develop the asset to include a new building in timber hybrid construction, doubling the space to 20,000sqm.
Once completed, both the existing building and development project will be leased by Infineon for 25 years.
Laurian Douin, partner at BCPRE, said: 鈥淲e are delighted to announce the second investment in Germany by our inaugural European real estate fund. We look forward to utilising our deep operational expertise to support the growth and development of Infineon鈥檚 mission-critical Warstein site, on which they are active in backend production, and research and development.
鈥淭he new build extension will involve a wooden hybrid structure, and a strong focus on energy performance and ESG credentials means we are targeting a BREEAM Excellent rating, which aligns with our commitment to embedding ESG criteria and aspirations in all our projects.鈥�
Andreas H枚fner, managing director at Garbe in Frankfurt, said: 鈥淲e are delighted to embark upon such project of special significance for us alongside BC Partners. On the one hand, we are supporting one of the world鈥檚 leading companies in the semiconductor industry at a decisive point in a significant growth investment at a strategic location. On the other hand, we demonstrate with this project that the Garbe platform provides a clear benefit for our partners.鈥�
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