M&G Real Estate invests €205m in three German assets
M&G Real Estate has invested €205m in two office buildings and a shopping centre in Germany.
The real estate fund management arm of M&G Investments has bought the Luisenforum shopping centre and office asset in central Wiesbaden for €140m.
David Jackson, fund manager at M&G Real Estate, said: “Key markets in Europe, and especially Germany, are now experiencing stronger tenant demand and take-up, which is fuelling rental growth and driving long-term income returns.”
Jackson said core assets in prime locations in Germany continue to be of interest to M&G’s pan-European strategy.
A further €40m has been invested in the 12,012sqm Ridlerstrasse 55 office property in Munich. The asset is let to nine tenants.
In Frankfurt, the Mainzer Landstrsasse 61 property, a 6,246 sqm office asset, was bought for €20.75m. Tenants include the State Bank of India and corporate lawyers Rittershaus.