GEG German Estate Group AG has now purchased both building components of the Fashion Mall Munich in Parkstadt Schwabing, within the scope of an off-market transaction. The fully let property has a total rental space of approx. 17,000m² and ca. 340 parking spaces. Total investment volume amounts to approximately €90m.
With its established user concept as a fashion and order centre for B2B clients, the Fashion Mall Munich benefits from a stable and diversified rental situation. A total of 31 tenants from the fashion industry present their clients with next season’s fashion collections in two separate buildings. Fashion Mall Bronce, the smaller of the two properties with 6,000m² space, attends to clients from the premium segment (16 brands), whilst Fashion Mall Titan’s approximately 11,000m² houses 15 tenants from the trend segment. Tenants in the mall as a whole include renowned brand names such as Max Mara, Marc Cain, Sportalm, Palmers and Esprit.
Ulrich Holler, chairman of GEG’s Supervisory Board, said: “This means that GEG has already achieved a purchasing volume of around €765m in the first six months of 2019. GEG is continuing its growth course and its success story of the last few years unchanged.”