The FINANCIAL — Munich-based real estate investment and development group Fiduciary Capital, backed by German institutional investors, completed the acquisition of a 15-acre estate with 11 buildings and over 860.000 square feet of predominately office space for € 85 million.
The complex had been bought from listed property company Sirius Real Estate.
The nearly fully-let predominantly office use complex features a strong tenant base including ASM Pacific Technology, Beckman Coulter and Nanoscape AG. The estate is embedded in a residential area near the Isar and the Mittlere Ring on Rupert-Mayer-Strasse in Munich’s fast growing southern district München-Obersendling. Obersendling underground station is located directly on the site and a connection to Marienplatz, the city’s heart, takes less than 10 minutes. The fast train and the Bavarian cross-country train station is only 5 minutes away, according to Fiduciary Capital.
Michael A. Gerlich, founder and managing partner of Fiduciary Capital, said: „Over the past five years we have been acquiring and developing real estate with significant, but complex value add potential. Our successful direct acquisitions and developments, such as M-Campus and M-Tower in Munich, have further expanded our strong track record with investments of this type. We see tremendous potential in this 15-acre estate that we intend to unlock over the medium term. We are much looking forward to this new opportunity and the continued relationship with the highly experienced and professional Sirius team.“ Andrew Coombs, Chief Executive Officer of Sirius Real Estate, said: „Sirius selectively sells stabilized assets to redeploy equity into assets which better fit our strategic focus. From their direct initial approach through to their on-time completion of the transaction Fiduciary Capital have been exceptionally reliable and solution-oriented and we are very much looking forward to the continued relationship with them.“