In three separate transactions, IVG recently sold property in Berlin, Munich and Paris at over €140 million. All three transactions have already taken effect in terms of cash, any object-related debt financing had not to be repaid.
The property in Paris with rental space of around 6,100 m² is on Avenue de Friedland in the 8th arrondissement near the Champs-Elysées and is almost fully let. It has been bought by a property fund (Spezialfonds) managed by IVG Institutional Funds.
The property in Berlin is an office building on the Klingelhöferstrasse (Tiergarten), which is let over the long term to KPMG. Buyer is a private investor from Germany.
The property in Munich is located on Neuturmstrasse in direct proximity to Maximilianstrasse. The building is fully let. The buyer here is also a private investor from Germany.
All three transactions are giving proof to the fact, that there furthermore exists a equity dominated investment market for high quality properties in prime locations.