Doughty Hanson has sold a 20,000 sq m (215,280 sq ft) mixed-use scheme in
Maximilianhöfe is situated between the historical buildings of the Bavarian State Opera and the Kempinski Hotel Vier Jahreszeiten on
The Free State of Bavaria sold the site to Doughty Hanson in March 2000 as part of its Real Estate Solutions programme.
The company redeveloped the site into office space, retail space and a rehearsal stage facility for the State Opera.
Sebastian Greinacher, principal of Doughty Hanson & Co, said: “The development of Maximilianhöfe has been an excellent example of creating a high-quality, institutional investment while satisfying the needs of a local community and its cultural heritage.
“The public private partnership model enabled the Free State of Bavaria to take delivery of a rehearsal stage on time and on budget, while we were able to develop the private part of the property to its highest and best use.”
The sale of the fully-leased scheme will return €80.4m (£54.3m) to investors.
