IC Immobilien Gruppe has acquired Indu15, a fully-let office building at Industriestrasse 15 in Germering near Munich. The total cost of the acquisition was in the tens of millions of euros. The office building was sold by the Munich-based Hammer AG, which was advised by Colliers International.
“In terms of acquisitions, it is clear that investors increasingly trust our broad regional market expertise in Germany," said Markus Reinert FRICS, Chairman and CEO of IC Immobilien Gruppe.
The office property has a total rental area of approximately 7,000 m² and is fully-let to financially sound tenants and consists of two sections: a new Building, which was developed by Hammer AG in 2012, and an older building, which was constructed in 1983 and extensively refurbished in 2009.
“The property was acquired by Hammer AG in 2011 as part of a portfolio deal. Our two-phase business plan envisaged the demolition of an old warehouse on the site, followed by the development of a modern office building. The new office space was already fully let when construction got underway. During the planned holding phase, we optimised the existing tenants’ lease terms and rental prices. As a result, we have now been able to place the office scheme successfully on the Munich real estate market," said Vladislav Georgiev MRICS, Managing Director Project Development with Hammer AG.