Deka Immobilien has acquired two office buildings in the “Weißes Quartier” complex in Munich. The seller is InfraRed Capital Partners, London, together with Allgemeine Sudboden, Munich. Building 1 is intended for the open-ended real estate fund WestInvest ImmoValue, which is aimed at institutional investors. Building 2 will be added to the portfolio of the institutional real estate fund Domus-Deutschland-Fonds Nr. 2. The parties agreed not to disclose the purchase price.
The “Weißes Quartier” was built in 1992 as the former Siemens campus and is currently being extensively revitalised. Building 1 forms the entry to the repositioned campus. It provides more than 22,000m² of leasable space and has rights to 251 parking spaces in a neighbouring parking garage. It is leased to a number of tenants under long-term leases. The main tenant is Diva-e, a provider of digital and e-commerce services.
Building 2 provides more than 7,500m² of leasable space and has an easement for 83 parking spaces that are also located in the neighbouring parking garage. It is let to two parties under long-term leases. The state of Bavaria is the main tenant, in this case, namely the Higher Regional Court of Bavaria.
The “Weißes Quartier” is located east of the city centre of Munich, inside the high capacity road “Mittlerer Ring”, and offers very good access by the public and private transport. The location is one of the office locations in Munich East, which is currently experiencing a strong upswing in the area extending from the factory district next to the Munich East railway station all the way to the purchased property. Both buildings received a WiredScore Gold Certification for their digital building infrastructure.