Germany-based investment firm Helaba Invest Kapitalverwaltungsgesellschaft mbH has bought the open-ended real estate special fund, AIF Beos Corporate Real Estate Fund Germany I (CREFG I).

The transaction is valued at over 500 million euros ($567.2 million). The fund has 21 commercial properties throughout Germany.

The portfolio, with 919,000 square meters of land and around 565,000 square meters of lettable space, consists of mixed-use commercial properties in established prime German locations and growth regions.

Around 98 percent of the properties are leased to companies with strong credit ratings, many of which are small and medium-sized enterprises. The weighted average remaining lease term is 4.7 years.