The large Munich project ´Fünf Höfe´ has been sold for a purchase price clearly below € 300 mln to DIFA Deutsche Immobilien Fonds AG from Hamburg.

The in March last year completed shopping- and officelocation ´Fünf Höfe´ has been developed by the Münchener HypoVereinsbank. The total usable area of the complex is approximately 48,000 m². 24.400 m² are being used for office units. About 15,000 m² are divided over 54 retailoutlets, as well as eight accomodations for hospitality and catering. The 3,200 m² large art-hall is another crowd-puller. Furthermore, the project also includes 27 residential units in the higher segment with surfaces between 80 and 120 m² (total: 3,200 m² living space). As the Süddeutsche Zeitung already reported before the end of the week, DIFA has beat various competitors and finally obtained the project. The first part of the project, which opened in the summer of 2002, was already succesfully let. The former chairman of the board mentioned a turnover of € 6,300 per m² in the retailoutlets present at that time. The office units are being offered in the topsegment of the bayerische district-capital, in a pricerange between € 29 and € 34.

Source: Immobilien Manager

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