Frankfurt-based publisher Bernd F. Lunkewitz has sold the Renaissance Haus scheme in Munich to an unnamed institutional investor for around EUR 53 mln. Built in 1902, the historic office building was completely renovated between 2001 and 2003 and currently provides 14,000 m[sup]2[/sup] of leasable area divided across seven floors.
Frankfurt-based publisher Bernd F. Lunkewitz has sold the Renaissance Haus scheme in Munich to an unnamed institutional investor for around EUR 53 mln. Built in 1902, the historic office building was completely renovated between 2001 and 2003 and currently provides 14,000 m2 of leasable area divided across seven floors.
The property is mostly leased to Apple, which uses it as its German headquarters. Other tenants are Hudson Advisors Germany, Sparda Bank München, Michael Page and Towers Perrin. The total occupancy rate in the building is around 85%. BNP Paribas Real Estate and law firm HauckSchuchardt advised the seller.
Also in Germany, IVG Institutional Funds said on Thursday that it has acquired an office building in Berlin from UK-based Henderson Global Investors. The seven-storey property offers some 8,100 m2 of space. The companies agreed not to disclose the purchase price. CBRE advised the seller on the deal. Law firms King & Spalding LLP and Olswang LLP acted for the buyer and the seller respectively.
Additionally, Fondshaus Hamburg (FHH) bought the municipality hall in Cologne this week for around EUR 35 mln. Completed in 1999, the property offers almost 15,000 m2 of space and 156 underground parking spaces. The scheme is leased to the city of Cologne until the end of 2029.
