CDC Investissement Immobilier, on behalf of French Caisse des Dépôts, and FOM Real Estate have recently signed, in a joint venture (CDC 90% / FOM Real Estate 10%), the acquisition of an office building located in the centre of Munich. The transfer of ownership should take place before summer.
It is a building of approximately 4,500 sqm located along Sonnenstrasse, the boulevard along Munich's old town, close to the transport hubs of Sendlinger Tor, Karlsplatz and the main train station.
We are pleased to carry out this first transaction in Germany. We have done there an extensive work over the last few years, in a highly competitive environment, allowing us to seize this opportunity after a rapid readjustment of the German market as interest rates rose and funding dried up. We intend to take advantage of this more favourable environment for long-term full equity investors to develop our German portfolio with further transactions.
Arnaud Taverne, CEO of CDC Investissement Immobilier
Know more reading the press release