Optima-Aegidius and Metropolian Group have acquired three Telekom properties in Munich from Corpus Sireo Real Estate.
Financial details were not revealed but media sources suggest the price was in the €50 mln range.
The portfolio deal includes Johann-Fichte-Straße 4 in Schwabing; Breslauer Straße 9 near Moosacher Bahnhof, and Seitzstraße 16 in Munich city centre.
In all three locations, Telekom has agreed to lease back part of the space, with the remainder available for redevelopment.
Metropolian and Optima said they would invest around €180 mln over the next three years. The investment partners are looking into developing around 500 apartments in total across the sites.
Metropolitan is the lead investor on the deal, while Bayerische Landesbank provided financing.
Jones Lang LaSalle brokered the deal while law firm Prof. Hauth & Partner advised Metropolitan.
