Peakside Capital has almost fully invested its €261m PREF I opportunity fund through the purchase of two office buildings in Frankfurt.
A follow-on opportunity fund is in the pipeline. The buildings were bought from BHF Bank, a subsidiary of Deutsche Bank, which recently vacated the properties as part of moves to wind down its real estate portfolio.
Peakside acquired the assets in a joint venture with German developer Gross & Partner. Together they will develop a 129,168 sq ft office and retail scheme worth €100m on the site.
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