Munich: GEG takes over “Junges Quartier” for €170mn


GEG German Estate is including one of its developments, the Munich campus project “Junges Quartier Obersending”, in its portfolio long-term. The firm has acquired the property on Schertlinstraße 8 and 12 from a consortium of a fund managed by Morgan Stanley Real Estate Investing (MSREI) and DIC Deutsche Immobilien Chancen for its own mandate, the open-ended Spezialfonds “GEG Public Infrastructure 1”. Hanseatische Investment-GmbH, Hamburg, is managing the special fund (AIFM). The total investment volume is roughly €170mn. CMS and Drees & Sommer advised GEG on the transaction. The seller was supported by the law firm of Nachmann Rechtsanwälte. The 45,000 sqm structure is leased long-term to the city of Munich, who is using the Quartier Obersendling as a model center for the joint education and integration of underprivileged young Germans and migrants.

TD Premium

Subscribers to our premium service have access to this article in full as well as to an additional 480,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.

TD Premium is Germany's leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.