Photo (visualization): Stipan Vukovic for Strabag Real Estate.
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The asset manager Warburg-HIH Invest Real Estate has acquired the office project development “Milestone 4” in Freiburg im Breisgau from Strabag Real Estate GmbH. The tenant can also serve as an argument for sustainability.
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After completion, the office property will have a total rental area of around 8,550 square meters, Warburg-HIH Invest announced. The property, which is also known as “JobRad-Campus-Süd”, is centrally located on Heinrich-von-Stephan-Straße near the main train station.
According to Warburg-HIH Invest, the building is fully let to JobRad GmbH for at least ten years. Since it was founded in 2008, JobRad has specialized in offering the company bike as an alternative to the company car in Germany. The main location and roots of the company are in Freiburg. The transaction took place as an asset deal for “Deutschland Selektiv Immobilien Invest II” from Warburg-HIH Invest, an ESG fund in accordance with Article 8 of the Disclosure Ordinance. The fund therefore primarily invests in sustainable Objects. The completion of the JobRad headquarters is planned for the second quarter of 2023. DGNB Gold certification is the aim.
Part of a larger district development
According to Warburg-HIH Invest, “Milestone 4” offers a mix of co-working and open-space areas, single and multi-person offices as well as conference rooms and think tanks. Groundwater heat pumps, ventilation systems with heat recovery and a roof area with extensive greenery reduce the environmental impact of the building. The property is part of a larger district development with a total of 47,500 square meters of rental space in the immediate vicinity of Freiburg Central Station.
“The good building and space quality, the modern equipment and a flexible floor plan structure speak for the new building, which has a high degree of third-party use. With JobRad, a long-term tenant with a sustainable business model and a very good credit rating is moving in, ”says Nadine Robra, Team Leader Transaction Management Germany at Warburg-HIH Invest. “We were able to secure the high-quality property as part of an off-market deal via forward funding. With an attractive dividend yield of around 4.2 percent pa, the investment generates a stable cash flow for our institutional investors, ”continues Nadine Robra.
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