Multi-family office Pamera Real Estate Partners has announced the purchase of a number of commercial assets in the German cities of Munich, Hamburg, Dusseldorf and Dresden, for a total of €90 mln.
Multi-family office Pamera Real Estate Partners has announced the purchase of a number of commercial assets in the German cities of Munich, Hamburg, Dusseldorf and Dresden, for a total of €90 mln.
The company has bought two fully-let commercial properties providing 5,500 m2 in Munich, which will be converted to residential accommodation; a hotel development site in the Neuhausen-Nymphenburg district of Munich; a 2,000 m2 office project on the site of the former Togal area in Bogenhausen; an over 3,700 m2 mixed-use building in Hamburg; and a 5,000 m2 vacant asset in the Oberbilk district of Duesseldorf, planned to be converted to a hotel.
'The last quarter was extremely successful for us. The German real estate market continues to offer opportunities for long-term investors. We therefore plan to carry out additional purchases and developments for our family and private investor clients in 2016,' said Christoph Zapp, managing partner of Pamera.
