Partners Group has picked up a majority stake in a portfolio of 30 commercial properties across Germany, France and the Netherlands through a €550m joint acquisition with Peakside Capital Advisors.
The properties are part of a portfolio previously owned by Imfarr Beteiligungs and SN Beteiligungen Holding.
The portfolio consists of 27 office and three logistics properties and is mostly located in Germany, with the remaining assets based in greater Paris and Amsterdam.
Partners Group said it and Peakside would work on a range of value creation opportunities, including repositioning several properties, to optimize the portfolio’s value.
Lars Kreutzmann, co-head private real estate Europe at Partners Group said, “This acquisition significantly expands our real estate portfolio in Germany and underlines the importance of the German market for us on a relative value basis.
“The portfolio benefits from attractive prime and secondary office locations and is a great fit with our value creation strategy, whereby we focus on properties that can benefit from repositioning with sufficient time and capital.
“We plan to undertake a multi-year value creation program to maximize value for our clients.”
Mike Bryant, co-Head Private Real Estate, Partners Group, added, “This portfolio was originally part of a larger real estate portfolio that was brought to market close to a year ago.
“Following that sales process, which we followed closely, we were given the opportunity, through our network, to acquire the assets that best align with our relative value strategy.
“This targeted sourcing makes this acquisition a great fit for our real estate opportunities strategy.”
Last month Partners Group sold the City Campus office complex in Berlin through a €200m deal.
Other recent deals from the firm include a buyout of FFL Capital-backed optometry and ophthalmology business EyeCare Partners last month in a reported $2.2bn deal.
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