Morgan Stanley Real Estate has sold three office properties in Munich for €36m.
Corpus Sireo has sold three office properties in Munich with a combined floor space of 247,569 sq ft for €36m on behalf of the US bank’s property investment arm. The buyer is fund manager Jargonnant Partners, advised by Goerk.
The assets are located at Elsenheimerstraβe 41-43, Charles-de-Gaulle-Straβe 2/3 and Nymphenburger Straβe 92 and include 350 car parking spaces between them. The Elsenheimerstraβe and Charles-de-Gaulle-Straβe properties sit in classic secondary locations with tenants including Honeywell and Schweizer Sortiment. The Nymphenburger Straβe asset is in a residential area and tenants include several small retailers, a doctor’s practice and residential tenants.
Savills advised Corpus Sireo.
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.”