East Guardian buys again in Germany
The family office East Guardian Immobilien AG, Zurich, is investing in Munich. Represented by Munich-based BLUE Asset Management, East Guardian has acquired the commercial and retail building "Maria-Probst-Strasse 22" in the Euro-Industriepark in Munich's Schwabing-Freimann district, directly on the main thoroughfare. The seller is a subsidiary of Ulrich Huber Beteiligungs GmbH.
The contracting parties agreed not to disclose the purchase price.
The property with a rental area of over 6,500 sqm was thoroughly renovated in 2013. According to BLUE Asset Management, new leases for around 2,500 sqm of retail and commercial space are due next year.
Comreal Commercial Real Estate acted as intermediary in the transaction.
BLUE Asset Management is the investment and asset manager for East Guardian Immobilien AG and has already implemented transactions together with the latter in Hamburg, Munich and in Austria. (ah)
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