has acquired an office building in southwestern Germany from 鈥� CCP 5 LL fund and DW Real Estate.
Patrizia has invested an undisclosed sum to buy the asset on Speyerer Street in Heidelberg, which offers 25,960sqm of office and laboratory space as well as a fitness studio.
Uwe Hettwer, associate director of transactions at Patrizia, said: 鈥淗eidelberg enjoys high demand for modern, amenity-driven office space owing to its large population of graduates and young professionals.
鈥漈his property in the heart of Heidelberg鈥檚 bustling Bahnstadt district benefits from its proximity to national transport links, walking distance to the main station and several companies from the bioscience sector in the Bahnstadt submarket.
鈥漇trong sustainability credentials and amenities boost the asset鈥檚 appeal to occupiers, while its existing mix of tenants and high occupancy offer a reliable income stream.鈥�
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