Immofinanz has sold two offices and a five-star hotel in Munich for more than€200m to a family office AM alpha.
The Austrian property company had been marketing the asset for a long time, according to a local investor. The yield is believed to have been below 5%.
Immofinanz sold the 65,000m2 asset in Lenbachgärten, just outside the inner city near the city’s main railway station, in order to improve its cash flow.
AM alpha invests on behalf of several wealthy German families. The deal is the biggest so far this year in Germany.
During the first half, Germany saw mostly shopping centre sales.
