Fund manager Commerz Real has acquired office and commercial buildings at Maximilianstraße 12-14 and Falkenturmstraße 5-7 in Munich city center for a private investor.
The seller is a subsidiary of the project developer Centrum. The parties have agreed not to disclose the purchase price.
The complex, on a plot of almost 1,600 square meters with around 6,100 square meters of rental space, was built in 1867 and is a listed building.
Tenants of the office and commercial buildings include Louis Vuitton, Montblanc and Swatch on the ground floor and first floor of the buildings on Maximilianstrasse. There are offices on the upper floors.
At the back of the Falkenturmstraße building is a hotel and two residential units.
Nearby, are the Bavarian State Opera and the Kempinski Hotel Four Seasons.
Kerstin Struckmann, Global Head of Product Management Institutional Clients, says, “The current market situation and rapid action by everyone involved have allowed us to acquire a rare jewel of the Munich real estate market for our client.”
