Theresie building complex secured for €257 million from Ivanhoé Cambridge (DE/CA)

Deka Immobilien GmbH has signed the purchasing rights to the Theresie building complex in Munich for approximately €257 million, with a subsidiary of Canadian real estate company Ivanhoé Cambridge.
The complex includes six buildings covering a total area of approximately 70,000 m². The offices make up approximately 55,000 m² with 6,000 m² of retail space, 5,000 m² of residential property and 4,000 m² of storage space. Currently the building complex, constructed in 2003, has 40 commercial tenants.
The primary tenant is the Staatliche Lotterieverwaltung (Bavarian government agency that runs the state lottery) as well as the Loyalty Partner Group, which operates the Payback Customer Bonus System and is owned by American Express.
The Theresie ensemble is fully leased and located in the centre of Munich near the Theresienwiese and has excellent public transport connections. The complex is currently in the process of acquiring a LEED Gold certification for sustainability.
Source: Ivanhoé Cambridge