German investment giant Deka Immobilien has acquired two office buildings in the Weißes Quartier complex in Munich from a venture between the UK's InfraRed Capital Partners and Munich-based Allgemeine Südboden.
Deka is reported to have paid circa €280 mln for the assets.
Building 1 is intended for the open-ended real estate fund WestInvest ImmoValue, while Building 2 will be added to the portfolio of Deka's institutional real estate fund Domus-Deutschland-Fonds Nr. 2.
The Weißes Quartier was built in 1992 to provide a campus to German manufacturer Siemens, and is currently being transformed into a new commercial district.
Building 1 forms the entry to the repositioned campus and includes some 22,000 m2 of leasable space plus 251 parking spaces in a neighbouring garage. It is leased to a number of tenants under long-term leases. The main tenant is Diva-e, a provider of digital and e-commerce services.
Building 2 provides more than 7,500 m2 of leasable space plus 83 parking spaces that are also located in the neighbouring parking garage. It is let to two parties under long-term leases, with the main tenant, the Higher Regional Court of Bavaria.
Both buildings received a WiredScore Gold Certification for their digital building infrastructure.
GSK Stockmann was the advisor for the buyer.
