The Libra Group has sold a 2,600 m2 modern office property in Cologne, part of its European real estate portfolio, to real estate investment company Publity AG. The fully rented property was built in 2001 and had been owned by Libra since 2006. This sale realises the accumulated value in the asset and has been acquired by Publity for one of the closed public Alternative Investment Funds (AIF) that it manages.
Publity is an established financial investor in the commercial real estate market since 1999, acquiring high-yield commercial properties primarily in West German conurbations and operates on a "manage to core" approach. With over 1,100 transactions in the past seven years, it is one of the most active players in the real estate market and currently manages a portfolio with a value of over €5 billion.
The Libra Group has real estate interests in over 20 countries. Its portfolio is diverse and spans residential, hospitality, retail and commercial properties. In addition to its extensive owned portfolio across diverse sectors and international locations, the group also has a significant portfolio of real estate under development globally including more than 5.8 m2 square feet of commercial and residential property developed and under development across the Americas.
While Libra’s broad strategy is focused on the long term, there have been some opportunistic investments, such as its Singapore residential property portfolio that was accumulated in 2004 and sold in 2007. The group has invested in real estate services businesses globally and brings a holistic approach to real estate ownership and management.