PORTFOLIO: FUND III
23,000 sm class A office building
In March 2014, Fund III made its first acquisition – an office building located in a well-established business park in Eschborn, near Frankfurt. The seller was a liquidating open-ended fund. While ASG bought the asset with a respectable going-in yield, expiring leases and a fluctuating tenant base means that ASG will reposition the asset by re-leasing space to improve the rental income.
This is a classic ASG value-add office lease-up that fits ASG’s key investment criteria: a high quality building with an excellent mix of tenants and a good location in a strong submarket where active management can create and improve value.