BC Partners Real Estate Completes High Double-Digit Million Disposition of R&D Campus in Germany
BC Partners (BCPRE) has completed the sale of a laboratory and research and development campus in Warstein, Germany, fully leased to Infineon Technologies AG. The disposition, valued in the high double-digit millions of euros, represents the second exit from BC Partners European Real Estate I fund, following the December sale of a Novartis-leased asset in Barcelona.
The transaction comprises the sale of an existing building scheduled to close in Q2 2026 and a newly developed facility upon completion in Q3 2026. A large US investor acquired both properties, which are fully pre-leased to Infineon under 25-year, CPI-linked, triple-net leases commencing upon practical completion of the new build development.
Real Estate Development and Sustainability Features
The real estate development project was executed in partnership with GARBE Institutional Capital and Garbe Immobilien-Projekte, with BCPRE providing equity and operational expertise while GARBE delivered sourcing, lease negotiation, and asset and development management services. The project doubles the campus total space to approximately 21,000 square meters.
Since the real estate acquisition in November 2023, BCPRE and GARBE achieved BREEAM Excellent certification for the existing building. The new development targets the same certification and incorporates timber hybrid construction, rooftop solar panels, and electric vehicle charging infrastructure. The facility is designed to be CO₂-neutral in use, aligning with Infineon's corporate ESG strategy and supporting the semiconductor company's continued expansion at its mission-critical Warstein site.
Strategic Exit and Market Positioning
Laurian Douin, Partner at BC Partners Real Estate, said: "This transaction is a prime example of our ability to manage complex, large-scale exits while continuing to deliver high-quality, sustainable assets for leading blue-chip occupiers such as Infineon. We were able to take advantage of the new market context and created assets which attracted strong demand from yield-oriented investors due to the project's exceptional cash-flow profile and delivered strong returns with an earlier than anticipated exit for our LPs."
Tenant and Transaction Advisors
Infineon Technologies AG is a DAX40-listed global semiconductor leader with more than 57,000 employees worldwide and a market capitalization of approximately €55 billion.
BCPRE and GARBE were advised on the transaction by Freshfields, EY, JLL, and BNP Paribas Real Estate.
About BC Partners Real Estate
BC Partners is an investment firm with approximately €35 billion in assets under management across private equity, private debt, and real estate strategies. Founded in 1986, the firm has operated in the European buyout market for nearly four decades.