Corpus Sireo has sold three office properties in Munich with a combined floor space of 23,000 m² for 36 million on behalf of Morgan Stanley, advised by international real estate advisor Savills. The buyer is fund manager Jargonnant Partners, advised by Goerk.
The assets are located at Elsenheimerstrasse 41-43, Charles-de-Gaulle-Strasse 2/3 and Nymphenburger Strasse 92 and include 350 car parking spaces between them. The Elsenheimerstrasse and Charles-de-Gaulle-Strasse properties sit in classic secondary locations with tenants including Honeywell and Schweizer Sortiment.
The Nymphenburger Strasse asset is in a residential area and tenants include several small retailers, a doctor's practice and residential tenants.
Alexander Zahrt, Senior Consultant in the Investment team at Savills Munich, says: "This sale reflects the high demand for good office properties in Germany at the moment. All three buildings are quality assets in Munich's established office locations."