The purchase was made for the portfolio of the UniImmo: Europa open-ended mutual property fund. The parties have agreed not to disclose the purchase price. The main tenants are Publix and LA Fitness Signature Club. The building was modernized in 2017 and offers a GLA of 175, 452 sq m.
“The food sector has always been a highly desirable and liquid asset class in the US. And the stable performance during the Corona pandemic has added to investor interest. In addition, with Florida’s continued population growth, demand is increasing across all asset classes in the state,” says Matthew Scholl, Executive Director and Head of Investment Management Americas at Union Investment.
“The Florida purchase serves to diversify our portfolio and thus hedge against future crises. We want to further expand our overseas real estate portfolio,” adds Henrike Waldburg, Head of Investment Management Global at Union Investment.
The newly developed Boynton Beach suburban area is located in the Miami-Fort Lauderdale-West Palm Beach metropolitan region, which is home to around 6 million people.