Pandion’s Werksviertel sale was Munich’s sixth, €500 mln+ trophy office transaction in the past 12 months.
London has some very big office sales pending but hasn't matched Munich yet.
Union and BVK’s forward purchase of Pandion Officehome this week - rumoured to be for €600 mln - followed Credit Suisse’s sale of the former Postbank complex to Imfarr and SN earlier this month, for circa €500m.
In Q2 2021, Highlight Towers and MediaWorks each sold for €650 mln and the O2 Tower for €569 mlm while last December Silver Tower fetched €630 mln. All the buyers have been German or DACH region investors.
AXA IM Alts priced an €800 mln green bond at record low rates, with the five-year tranche’s coupon at just 0.375%. The bond ticked all the boxes for investors being green and secured against a very large portfolio of pan-European logistics properties.
We also track six managers raising or planning to raise new vehicles and new assets coming to market.
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