Munich: M&G buys “Aurum” for over €80mn
M&G Real Estate has acquired the “Aurum”, located on Radlkoferstraße in Munich’s Theresienhöhe district, on behalf of its M&G European Property Fund. The seller of the 13,768-sqm property is a fund managed by J.P. Morgan. Market insiders have revealed that the purchase price was between €80mn and €90mn. The property is fully let and was upgraded by a renovation completed at the beginning of this year. The seller was represented by Colliers International. M&G Real Estate acted as its own counsel.
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