Munich-based asset manager MEAG has acquired the Arte Fabrik property located in Munich's Schwabing district from AXA IM Alts.
The deal is reportedly worth €60 million. AXA IM Alts originally purchased the building in 2013 for €40 million from TMW Immobilien Weltfonds.
The mixed-use building at Feilitzschstrasse 4-6 in Munich's Schwabing district extends to Franzstrasse with its spacious outdoor areas. It was renovated and expanded in 2005 and 2013 and has 11,000 square meters of rental space and 195 parking spaces.
The building with its glass and plaster facade offers modern office, leisure, restaurant, and retail spaces. The property is almost 100% rented to tenants from the film, wellness and fitness, gastronomy, and food retail sectors and to the city of Munich with a daycare center. The company Constantin Film AG has its headquarters in the property.
Source: propertyeu.info on the 3rd of April