HSH Nordbank has sold its stake in Tishman Speyer European Strategic Office Fund to Partners Group, according to UK regulatory filings.
The Tishman Speyer European Strategic Office Fund closed in 2003 on €602 million. The fund acquired real estate assets in major Western European business districts including Brussels, Hamburg, Munich, London, Milan and Paris, according to the firm’s website.
The fund’s portfolio includes the Lumière office building in Paris, which is occupied by the French Ministry of the Interior. Other properties include the Credit Suisse headquarters in Milan and the Deutsche Bank headquarters in Brussels.
Tishman Speyer declined to comment.
Hamburg-based HSH Nordbank focuses on real estate investments in German metropolitan regions such as Berlin, Düsseldorf/Cologne/Ruhr, Frankfurt, Stuttgart and Munich, according to its website.
Partners Group purchased the portfolio using its Partners Group Real Estate Secondary 2013, according to the regulatory filings. The fund closed on $1.95 billion last month, surpassing its $1 billion target. LPs include the London Borough of Camden Pension Fund and the San Bernardino County Employees’ Retirement Association, according to PEI’s Research and Analytics division.
Partners declined to comment on the transaction but previously said the market for buying LP interests in real estate funds was potentially far larger than recent estimates and that it had screened more than $100 billion of real estate secondaries.
Earlier this year, Partners Group acquired interests in Niam Nordic III fund. The firm has also built up a $400 million position in BlackRock Asia Fund III, after purchasing interests from existing institutional investors in the 2008-vintage fund. It is unclear if Partners Group used its 2013-vintage fund to make those investments.