REInvest Asset Management S.A. has secured the historic "Helmholtz" office building in Munich's Arnulfpark for its DRED SICAV-FIS fund. This acquisition, conducted at a strategically favourable price, represents a key investment in one of Munich's most vibrant districts, previously owned by a British asset manager.
Built in the 1920s, as the administrative hub for the Krauss locomotive factory, the "Helmholtz" building offers c. 6,600m2 of rental space and 16 external parking spots. BGW Professional Association for Health Services and Welfare is the main tenant.
Stephan Bottger, Executive Director at REInvest Asset Management S.A., commented, "Located in a highly desirable part of Munich's city centre, the 'Helmholtz' is a marquee property that stands in a district increasingly popular with major IT firms such as Apple and Google. We are excited about the continued growth and potential of the Arnulfpark area and are proud to integrate this historic site into our portfolio."
Hans Stuckart, Managing Director at REInvest, added, "Purchasing 'Helmholtz' in the dynamic Arnulfpark underscores our dedication to investing in significant office markets, even amid economic uncertainties. This acquisition is aligned with our overarching strategy to fortify our portfolio by embracing targeted risk diversification and seizing compelling growth opportunities."
Image provided by REInvest.
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