IC Immobilien Gruppe advises Castleforge Partners on first acquisition in Germany

Thomas Daily, Property Funds World and Property EU report that the British private equity investor Castleforge Partners has successfully completed its market entry in Germany with the purchase of an office property at Martinistrasse 62–66 in Bremen. IC Immobilien Gruppe was a consultant, advising on the off-market transaction.

The 4,900-square-metre multi-tenant office building is located in the Bremen’s inner-city business district. The business plan foresees a complete refurbishment of the building, and following the successful completion of the work Castleforge will accommodate its British co-working provider Clockwise in the property.

In addition to its exclusive mandate as the local investment manager, IC Immobilien Gruppe has also been commissioned with the asset and property management for the building since the beginning of August 2021. In the framework of its expansion plans, Castleforge Partners intends to make further acquisitions in Germany’s second-tier cities in the next 18 months, with IC Immobilien Gruppe again acting as a consultant.