A consortium of investors led and advised by the international property investment and advisory group Quinlan Private has acquired the Maximilianhofe complex, a flagship property on Munich's Maximilianstrasse, from Doughty Hanson & Co Real Estate for EUR 270 mln.
A consortium of investors led and advised by the international property investment and advisory group Quinlan Private has acquired the Maximilianhofe complex, a flagship property on Munich's Maximilianstrasse, from Doughty Hanson & Co Real Estate for EUR 270 mln.
The complex is located in the heart of the shopping and business district of Munich, one of the busiest luxury retail location in Germany. The property comprises two adjoining buildings for office and retail use. The 20,000 m2 property is fully let to 28 international and German tenants, many on long-term leases. Amongst the tenants are some of the world's leading fashion retailers including Bally, Chopard and Dolce & Gabbana as well as leading professional services firms.
The site was acquired in 2000 from the Free State of Bavaria by the real estate fund manager Doughty Hanson & Co and redeveloped into a prime office and retail space and a rehearsal facility for the State Opera.
Quinlan Private's Thomas Dowd has said: 'The Maximilianhöfe property is a unique asset located in the most exclusive retail location of Germany's wealthiest city. Despite strong competition from local and international bidders, this transaction was completed following a short exclusivity period reflecting QP's speed of execution and ability to work to a tight timetable, a competency which is valued by vendors of assets of this quality.'