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16 December 2017
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BVK purchases Chicago based warehouse property

04 August 17 - RE+D Magazine
BVK purchases Chicago based warehouse property

COMPANIES

Zeus

Fund - GREECE

IBI Group

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Bayerische Versorgungskammer (BVK), Germany’s largest pension fund, has invested in a 1m sqft newly-completed distribution and warehouse property in the Chicago area via CBRE Global Investors and Universal-Investment.

 

According to realestate.ipe.com, the two investment management firms bought the asset in Gateway 57 Corporate Park, which is located in University Park, Illinois, for the separate account of the €84billion Bavarian public sector pension fund.

The building is 100% triple-net leased — meaning the tenant is responsible for property taxes, insurance, and maintenance — to Georgia Pacific Consumer Products, CBRE Global Investors said.

The price paid for the building was not disclosed

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