Fiduciary Capital acquires a 15-acre estate with over 860K lettable sf in southern Munich for EUR85m
Munich, May 3, 2017 - 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 EUR 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.
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 FC M-Suites 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."
About Fiduciary Capital (www.fidcap.de)
Fiduciary Capital is a real estate investment and development group based in and focused on Munich, the third largest European office market after London and Paris, and the Munich metro region with a population of 6 million. It was founded in early 2012 by its sole managing partner Michael A. Gerlich, who possess over 20 years of real estate investment and development experience, and since has solely focused on acquiring real estate assets together with primarily German institutional investors that offer the potential to achieve attractive returns through innovative value creation and diligent optimization and that possess clearly identifiable and underwritable, low to moderate downside risk. The focus has been on existing commercial assets with chronic vacancies and/or refurbishment or (re-)development potential.
About Sirius Real Estate (www.sirius-real-estate.com)
Sirius is a property company listed on the main market and premium segment of the London Stock Exchange and the main board of the Johannesburg Stock Exchange. It is a leading operator of branded business parks providing conventional space and flexible workspace in Germany. The Company's core strategy is the acquisition of business parks at attractive yields, the integration of these business parks into its network of sites under the Company's own name as well as offering a range of branded products within those sites, and the reconfiguration and upgrade of existing and vacant space to appeal to the local market, through intensive asset management and investment. The Company's strategy aims to deliver attractive risk adjusted returns for shareholders by increasing rental income and improving cost recoveries and capital values, as well as by enhancing those returns through financing its assets on favourable terms. Once sites are mature and net income and values have been optimised, Sirius may consider their disposal in order to recycle equity into assets which present greater opportunity for the Group's asset management skills
scrivo PublicRelations GbR
Managing Director/PR Consultant
+49 89 45 23 508 11
Sirius Real Estate
Andrew Coombs, CEO
Alistair Marks, CFO
+49 30 285010110
1a Garrick House
London W1J 7AF
+44 20 3151 7008
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