Union Investment Real Estate has sold two business parks to Sirius Real Estate

Union Investment Real Estate, based in Germany, has sold two business parks in Berlin and Potsdam to Sirius Real Estate for US$56.5 million.

This transaction includes "B1 Business Park" in Berlin-Mahlsdorf and "Unternehmer Park" in Potsdam-Babelsberg. Both business parks together provide 67,774 sqm commercial space and are let to well-known tenants.

Sirius Real Estate owns and operates a diversified property portfolio of business parks across Germany, with over one million sqm to let. Under the Sirius brand, each business park offers flexible workspace and services to suit small and medium sized enterprises.

Union Investment Real Estate GmbH is one of Europe's leading property Investment management companies. The firm combines over 45 years of asset management with capital market expertise within the dynamic Union Investment Group. Union's portfolio comprises some 319 prime properties in outstanding locations in the world´s major cities.

Oaklins' team in Germany advised the seller on the whole transaction process.