Transactions - FEBRUARY 16, 2017

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

M&G invests €205m in Germany

by Andrea Waitrovich

M&G Real Estate, the real estate fund management arm of M&G Investments, has invested €205 million ($219 million) in the acquisition of two office buildings and a shopping center in Germany.

The retail property was the 369,417-square-foot Luisenforum Shopping Center in Wiesbaden, a city in central western Germany and the capital of the federal state of Hesse. The sales price was €140 million ($150 million).

In Munich, M&G Real Estate acquired Ridlerstrasse 55, an office property totaling 129,296 square feet, for €40 million ($43 million). It is leased to nine tenants. And in Frankfurt, the firm purchased the office property located at Mainzer Landstrsasse 61 for €20.75 ($22.15 million). It totals 67,231 square feet, and tenants include the State Bank of India, corporate law firm Rittershaus and financial services company FIB Management.

“Key markets in Europe, and especially Germany, are now experiencing stronger tenant demand and take-up,

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy