Savills: Three Munich offices sold (DE)

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."

Source: Savills

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