Commerz Real has acquired an ensemble comprising office and commercial buildings at Maximilianstrasse 12-14 and Falkenturmstrasse 5-7 in Munich’s historic centre for a private investor.
The seller is a subsidiary of the project developer Centrum.
Financial details were not disclosed.
Kerstin Struckmann, global head of product management institutional clients at Commerz Real, said: 'The current environment and the swift action taken by all the participants mean we have been able to acquire a rare gem on Munich’s property market for our client.'
The complex on a plot covering nearly 1,600 m2 and with rental space of approx. 6,100 m2 was erected in 1867 and is a listed building.
The ground floor and the first floor of the building on Maximilianstrasse houses well-known brands such as Louis Vuitton (Hublot and Fendi), Montblanc and Swatch (Blancpain).
Offices are located on the remaining floors. Located in the building at the rear on Falkenturmstrasse are a hotel and two residential units.
Among the attractions in the immediate vicinity are Marienplatz, Munich’s main square, the Bavarian State Opera, and the Kempinski Hotel Vier Jahreszeiten.
