Acacia Point Capital takes ownership stake in 4.4 hectare mixed-use property in Munich
Acacia Point Capital has taken a minority ownership stake, alongside a US-headquartered private equity investment manager, in the acquisition of a 58,000 sqm mixed use asset on Landsberger Strasse, some 5km west of central Munich. The property has 10 high calibre retail and logistics occupiers including Bauhaus, Staples, Kaufhof, Prosegur and Kustermann. The buildings are 93% occupied with a WALE exceeding 9 years.
According to Matthew Walker, Managing Director of Acacia Point, “This is a vast property comprising some 4.4 hectares in central Munich, Germany’s economic powerhouse and one of Europe’s most sought after real estate investment locations. The asset has several short to mid-term value enhancement opportunities and we anticipate yields firming sharply in Munich in 2015/16 as competition intensifies to secure large scale real estate investments in major European gateway cities”.