JER Partners has set up a joint venture with Germany's International Property Asset Management (IPAM) to purchase three commercial properties in the north of Germany from a mortgage bank for EUR 18.5 mln. The transaction represents the first step for US-headquartered JER Partners towards the development of a commercial property portfolio in the country.
A 4-acre, freehold site at Kings Cross in the capital’s Knowledge Quarter is expected to attract international interest.
