Hamburg-based Quantum Immobilien has purchased a commercial real estate portfolio for EUR 52mln. The portfolio consists of six office properties and one office and commercial building with total rental space of about 35,000 m[sup]2[/sup] located in the cities of Düsseldorf, Munich, Wupertal and Cologne. One of the properties, a vacant office building in Munich comprising about 8,000 m2, has already been resold for EUR 12 mln.
Hamburg-based Quantum Immobilien has purchased a commercial real estate portfolio for EUR 52mln. The portfolio consists of six office properties and one office and commercial building with total rental space of about 35,000 m2 located in the cities of Düsseldorf, Munich, Wupertal and Cologne. One of the properties, a vacant office building in Munich comprising about 8,000 m2, has already been resold for EUR 12 mln.
Quantum said active asset management at the remaining properties will reduce vacancy levels, increasing the value of the portfolio ahead of a future resale. 'We are convinced that we will be able to increase the occupancy level substantially, thereby generating attractive increases in value,' said Quantum management board member Philipp Schmitz-Morkramer. 'This is especially so because most of the real estate is located in top markets across Germany with very good prospects, and rents at these locations are consistently good.'
