Savills obtains further value-add-investment

Real I.S. Investment GmbH, has acquired Charles-de-Gaulle-Straße 2-3 in Munich’s Neu-Perlach district for its Southern Germany funds. The mixed use asset was purchased from a vehicle managed by Jargonnant Partners, advised and obtained by international real estate advisor Savills.

Built in 1993 and refurbished in 2013, the scheme totals 8,000 sq m of which 6,100 sq m comprises offices, 920 sq m of retail and 980 sq m of residential space. 

Alexander Zahrt, director of investment for Savills Germany and responsible for German value-add-investment team, comments: “Charles-de-Gaulle-Straße 2-3 is an attractive mix-use space which generates a strong secure income. We advised Jargonnant Partners on their acquisition of the space in 2011 when vacancy was at 80%, it now boasts on occupancy rate of approx. 93%, demonstrating one of the best examples of a value add investment angles in the market.”

Andreas Wende, COO and Head of Investment at Savills Germany adds: “The Munich  investment market is very strong currently with volumes up 13% in H1 2014 at €1.6 billion compared to an already strong H1 2013. Furthermore, the Munich market is booming, with one record foiling the next.”