Publity puts €220m German office portfolio on market

German investor Publity is selling a portfolio of four office properties in Munich and Frankfurt with a combined value of €220 mln.

Colliers International has been instructed to handle the sale of the 80,000 m2 portfolio, which includes the Wappenhalle at the former Munich-Riem airport site, an office complex on Munich’s Leopoldstrasse, and two properties in Frankfurt and Bad Vilbel.

Colliers said there was potential to improve the occupancy rate by around 10% through investments and asset management.

Publity Finanzgruppe is a distressed property investor based in Leipzig with offices in Frankfurt, London and Luxembourg. It manages a number of closed-end property funds for private and institutional investors.