Fund manager MPC Capital has acquired a Siemens complex in Erlangen, Germany for EUR 30.9 mln. The complex, consisting of three office buildings, a staff restaurant and parking garage, were purchased on behalf of a new fund, MPC Germany 10.
Fund manager MPC Capital has acquired a Siemens complex in Erlangen, Germany for EUR 30.9 mln. The complex, consisting of three office buildings, a staff restaurant and parking garage, were purchased on behalf of a new fund, MPC Germany 10.
Engineering conglomerate Siemens has 3,500 employees working in the 63,500-m2 complex. The existing lease runs for another 11.5 years, with two 5-year extension options. The rental income will be adjusted proportionally to the consumer price index, offering protection against inflation.
Private investors can participate in the new fund by putting up at least EUR 10,000 plus a 5% charge. The fund will pay out a quarterly dividend of 6%.
MPC Capital is Germany's largest listed issuing house for closed-end funds. To date, it manages an investment volume of more than EUR 18.3 bn across various asset classes.
