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M&G Real Estate bankrolls German office scheme

M&G Real Estate, the real estate fund management arm of M&G Investments, is bankrolling the construction of a 15,060-square-meter office building at the junction of Fürstenwall and Friedrichstraße in Dusseldorf, Germany, IPE Real Assets reported.

According to the report, construction on the office scheme, known as Fürst & Friedrich, is expected to finish in 2019. The asset is already 33% let on a 15-year lease.

M&G's total real estate investment in Germany across its European fund range now stands at over €750.0 million.