Savills Munich sells “Kreiller 214” to Bahraini family office

06 February 2018

The “Kreiller 214” development in Munich’s Trudering district has changed hands. The 4,200 sq m mixed-use property at Kreillerstraße 214 has been sold by Bucher Properties GmbH to Bahraini family office Al Zayani Investments ahead of its scheduled completion in the first quarter of 2019. International real estate services provider Savills acted as sole agent on behalf of the vendor.

“The asset deal is the second transaction we have completed between Bucher Properties and Al Zayani,” says Michael Gail, Associate Director Investment for Savills in Munich. Al Zayani acquired the neighbouring property “Kreiller 200” in May 2017. The tenant mixes of both buildings complement each other fantastically, acting as an anchor for the new local amenities on Kreillerstraße. The ongoing urban development of the area is also reinforcing the repositioning of Trudering as a location. “Kreiller 214” is a modern mixed-use property that will provide 4,200 sq m of space. The ground and first floors have been pre-let to Postbank for use as a branch and sales centre. Fitness chain FitStar will occupy 2,000 sq m on the second and third floors. Bucher Properties is also in discussions with a number of promising candidates with regard to letting the remaining retail space.

“The sale reflects both the increasing investment activity from foreign investors from the Middle East and Far East and the vital importance of having a good international network,” says Michael Gail. In this instance, Savills’ Munich office worked closely with the firm's cross-border team in Dubai and London.

 
 

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Michael Gail

Michael Gail

Associate Director / Teamleader Investment Munich
Investment

Munich

+49 89 427 292 213