Montano Real Estate GmbH (Montano) added another attractive property to its joint commercial real estate portfolio with Beyond Real Estate. The property was acquired as part of an asset deal from a real estate company listed on the New York Stock Exchange. The office complex at Madrider Strasse 1 (MASTRA) in Mönchengladbach has a lettable area of around 18,700m2 and 389 parking spaces, spread across an underground car park and outdoor parking spaces. The sole tenant is Santander Consumer Bank.
Built-in 2015, the core property consists of four building sections and is located in Mönchengladbach's Nordpark district, near the Borussia-Park soccer stadium. Several bus stops in the vicinity ensure excellent public transport connections.
"With the acquisition of MASTRA, we were once again successful together with Beyond," said Katharina Weigl, Director Debt Finance & Investment at Montano. "With its location in the economically strong Rhine-Ruhr region, Mönchengladbach is an attractive location for office properties. The creditworthy tenant Santander Consumer Bank secures us a stable long-term cash flow."
"With MASTRA, we have repeatedly shown that it is possible to make attractive transactions even in this challenging market environment," said Samson Weldemariam, Head of Investment at Montano Real Estate. "We are still actively looking for interesting properties and have a very solid financial basis to take advantage of the opportunities that arise."
Montano will be responsible for asset management in the future. Montano and Beyond were advised on the transaction by Noerr and technically by Kroll. CBRE brokered the transaction.
Image source - Pexels.
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