Hannover Leasing has sold an office complex in Munich for EUR 75 mln to cash in on the high prices commanded by German properties. The asset in the office park 'Siemens AG - Munich, St Martin-Str' is leased to Siemens until 2016. The building was marketed to investors in 2003-2004 via a closed-ended real estate fund that was to operate until 2020. But Hannover Leasing decided to divest it now because of the attractive returns offered by the current sellers' market.
Hannover Leasing has sold an office complex in Munich for EUR 75 mln to cash in on the high prices commanded by German properties. The asset in the office park 'Siemens AG - Munich, St Martin-Str' is leased to Siemens until 2016. The building was marketed to investors in 2003-2004 via a closed-ended real estate fund that was to operate until 2020. But Hannover Leasing decided to divest it now because of the attractive returns offered by the current sellers' market.
