LaSalle Investment Management has acquired a 9,000 m2 office property in Munich on behalf of a spezialfonds for institutional investors.
LaSalle Investment Management has acquired a 9,000 m2 office property in Munich on behalf of a spezialfonds for institutional investors.
The financial details were not disclosed.
The property is located in Prinzregentenstraße and comprises 9,000 m2 of space let to two tenants on a mid-term lease.
The asset was sold to LaSalle's KAG German fund unit by AXA Immoselect, a fund managed by AXA Investment Managers.
LaSalle KAG was advised on the acquisition by CBRE.
LaSalle KAG has a total investment volume goal of €600 mln, to be invested in office and retail properties in prime locations with long leases. The geographic focus is Germany, France, the UK, the Netherlands and Scandinavia.
