Background and Opportunity
- Acquisition of two office buildings in the Munich area which were fully occupied but under-rented and with a short lease profile
- Off market acquisition of two out of seventeen assets from a larger bank-owned portfolio
- The vendor offered unique access based on successfully completing three previous deals with Revcap
Transaction Progress
- Active tenant engagement and lease management increased net operating income and improved weighted average lease terms
- Unsolicited offers were received for both buildings
Current Status
- Both buildings individually sold in ahead of business plan and underwriting
