(Commerz Real Sells “Medienfabrik” Property in Munich)
Commerz Real just sold the “Medienfabrik” office scheme from the portfolio of its hausInvest open-ended real estate fund to Allianz Real Estate. It was agreed not to disclose the purchase price. The complex, which includes buildings located at Theresienhöhe in downtown Munich, was added to the portfolio as project development in 2007, and completed in 2010.
The building complex of Medienfabrik includes a gross lettable area of around 33,000 square metres. Current key tenants include the technology firm National Instruments, the pharmaceuticals company Daiichi-Sankyo, the auditing firm of Oppenhoff & Rädler, as well as a number of companies from the media and communication sector. The Theresienhöhe office location is well established and distinguished by its centrality, superior infrastructure, and favourable transportation access.
Source: Company