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.”