16 February 2017
London
Reporter: Theo Andrew
M&G invests €205 million in Germany
M&G Real Estate has acquired a shopping centre and two office buildings in Germany, for a combined total of €205 million.

The Luisenforum Shopping Centre in Wiesbaden, which has been acquired for more than €140 million, is a 34,320 square metre shopping centre and office complex.

According to M&G, the property is located in a prime pedestrian area, and houses a diverse range of tenants.

The two office properties, Ridlerstraße 55 in Munich, and the Mainzer Landstrsaße 61 in Frankfurt, were acquired for €40 million and €20.75 million respectively.

The former, located in the well-established Westend district of Munich, is a 12,012-square metre, recently-modernised office let to nine tenants.

The latter, a 6,246-square metre office located in Frankfurt’s banking district, has tenants including the State Bank of India, corporate lawyers Ritterhaus and financial services company FIB Management.

M&G RE has invested €1 billion of capital in its core European strategy since March 2015, including the acquisition of the largest retail park in Italy for €208 million and a further €190 million invested in commercial property in Paris, Barcelona and Copenhagen.

David Jackson, fund manager at M&G Real Estate, said: “Key markets in Europe, and especially Germany, are now experiencing stronger tenant demand and take-up, which is fuelling rental growth and driving long term income returns. As such, core assets in prime locations in Germany continue to be of interest to our pan-European strategy.”

More news
The latest news from Real Estate Investment Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Barings Real Estate appoints Marco Court in Italy expansion
28 April 2017 | Milan | Reporter: Theo Andrew
In his new role, Corti will be responsible for increasing investment and asset management in the country
COIMA board appoints independent directors
28 April 2017 | Milan | Reporter: Theo Andrew
The appointments mean seven out of nine board members are now independent
Heimstaden expands Copenhagen portfolio for €118 million
27 April 2017 | Copenhagen | Reporter: Theo Andrew
Haimstaden currently has a number of projects underway in Copenhagen, including the Bjerglandsbyen development
New director of self-storage at W.P. Carey
27 April 2017 | New York | Reporter: Theo Andrew
Boulter joins from Wasatch Storage Partners, where he was vice president of business development
PGIM debt fund raises over £1 billion
27 April 2017 | London | Reporter: Theo Andrew
The fund raised more than 80 percent of the capital in the nine months following the UK’s vote to leave the EU in June
WELPUT fund sell £135 million London office
26 April 2017 | London | Reporter: Theo Andrew
The deal, made on behalf of Schroder’s West End of London Property Unit Trust (WELPUT) fund, reflects a net initial yield of 3.96 percent
Clifford Chance promotes Matt Taylor to real estate partner
26 April 2017 | London | Reporter: Theo Andrew
Taylor has been in the real estate arm of Clifford Chance for the past 10 years, joining the law firm in 2005 as a trainee solicitor