European private equity real estate platform Henderson Park and funds managed by Swiss Life Asset Managers agreed to purchase the 74,000-square-meter, two-building Kustermann Park office complex in Munich for approximately €400 million.
Henderson Park is buying the 42,000-square-meter Rockwell Haus building, which is fully leased to tenants including the City of Munich, TDK and Regus. Two of the main tenants will leave the property at 2019-end.
Swiss Life will buy the 32,000-square-meter, fully leased Brinell Haus property. The City of Munich, which will occupy 40% of the asset, has entered into a 20-year lease for the building.
