AXA Real Estate Investment Managers announces that it has completed, on behalf of one of its managed funds, the acquisition of Twenty 8 office building in the city center of Munich from Deka Immobilien.
Located in a prime location within the central business district and the Altstadtring, the high quality core asset comprises 4,864 m² lettable area with around 4,200 m² office space and approximately 560 m² for retail. It provides an underground parking structure that holds 82 parking spaces. The building, which is close to the underground station Marienplatz, is currently almost fully let to a financial institution and other corporate tenants as well as to a restaurant.
The AXA Real Estate team of AXA Investment Managers Deutschland GmbH is one of the most active asset managers in Germany, which remains one of its key market, and it continues to source deals whilst also utilising its strong asset management capabilities to generate returns for clients.
Source: AXA Real Estate