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| SEB ImmoPortfolio Target Return Fund buys property in Munich SEB Asset Management, one of the leading real estate fund managers in Germany, has increased the proportion of German properties in its globally orientated SEB ImmoPortfolio Target Return Fund to 13. A commercial property with a long-term lease in Munich-Pasing was acquired for the open-ended real estate fund. The total investment costs are approximately EUR 20.4 million. The seller is Vienna-based MG Grundbesitz Objekt Gleisdreieck Pasing GmbH & Co. KG, a project development company belonging to UBM Realitätenentwicklung AG. The property has total rental space of 12,650 m² and is leased to Praktiker Bau- und Heimwerkermärkte AG, which is listed in the MDAX, until December 2027. A key advantage of the "Am Gleisdreieck / Bodenseestraße" location is its direct link to the B2 national highway, one of the major arteries leading to Munich city centre. write your comments about the article :: © 2010 Construction News :: home page |