Luxembourg / Beijing, May 26 2020

Universal-Investment acquires office complex in Beijing for Bayerische Versorgungskammer

Universal-Investment has, in cooperation with an Asian asset management company, recently acquired a fully leased office complex in Beijing in an off-market transaction from a local developer for Bayerische Versorgungskammer (BVK), Germany´s largest pension scheme group under public law. The asset is in proximity to the CBD of Beijing and is fully let to a state-owned enterprise.

"We are delighted that it has been possible to complete this transaction although the current pandemic situation and that we are able to increase our footprint in the Chinese market. We like to thank everyone involved in the project," stated Axel Vespermann, Managing Director of Universal-Investment responsible for the Real Estate division.

The acquired asset is located next to the fifth ring road in Beijing's Changping District and consists of two office towers and a small retail podium, offering around 22,000 square meters of office and retail space. The office complex is part of a development project that has been completed in 2018, which proven attractive due to its convenient location, with good connections to the airport and the city centre, and its attractive design. It was designed by a renowned German architects office, which has been involved in numerous landmark projects in the near past. The asset stands out with its Art Deco façade, roof gardens on the office towers and a LEED Gold Pre-Certification for sustainable design and an environmentally oriented development.

Fully let single-tenant property with around 22.000 square meters of rental space

Universal-Investment plans own subsidiary in Asia

Universal-Investment has been acquiring real estate for institutional investors in Asia since several years. The fund service platform will now develop its first branch office outside of Europe in an Asian financial centre, thus following investors as well as asset managers that increasingly invest in Asia and specifically China. “We see tremendous potential for all asset classes in the Asian market and want to be closer to the transactions,” said Marcos J. Joos, Regional Head Asia at Universal-Investment. The location of the branch as well as the launch of the local operations is dependent on the licencing process with local authorities.

ABOUT BAYERISCHE VERSORGUNGSKAMMER

Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.4 million insured persons in total, with contributions of € 5.0 billion and about € 3.6 billion pension payments annually. It currently has € 81.7 billion assets under management and more than 1,350 employees.

Bernd Obergfell

Head of Communications

Phone
+49 69 71043-575

e-mail
bernd.obergfell@universal-investment.com

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