Hines, the international real estate firm, has acquired two office buildings belonging to “Lenbach Gärten” in Munich on behalf of two investors. The buildings offer flexible office space of around 30,000 m2 in an excellent location. Both properties are of first-class quality, fully let and have a high-quality tenant mix.
Christian Meister, Managing Director at Hines Immobilien said: “With the acquisition of the two office buildings we have secured a true trophy asset for our investors in Germany’s leading economic hub. The office complex has a strong tenant structure and thus a continuing stable cash flow.”
The two separate office properties of “Lenbach Gärten” are part of a mixed-use development, which was designed in 2007 by the renowned architects Hilmer, Sattler, Albrecht and Steidle. The development comprises a mix of working, living, restaurants and a 5-star hotel. The building complex is located just a few minutes from Munich’s main railway station, which acts as an international traffic hub. The “Lenbach Gärten” will also benefit from the ongoing upgrading of the station district.
Source : Company