Peakside Capital Advisors AG ("Peakside") has acquired the Alte Börse in Munich as part of a newly launched mandate with a long-term focus. With the first purchase for the new mandate, Peakside is expanding its investment strategy for unique properties – so-called trophy properties – in the top 7 locations in Germany. The seller is the Dutch fund Dekor Vastgoed B.V. ("Dekor"), the purchase price was not disclosed.
The listed and detached property is located in a prime location in Munich's city centre, directly on Lenbachplatz, and is for mixed use. The use mainly includes modern office space and medical practices as well as high-quality retail and catering facilities on the ground floor.
Boris Schran, Managing Partner at Peakside Capital Advisors, says: "The Alte Börse fits perfectly into the investment strategy of our latest mandate, which aims to acquire high-quality properties in exceptional locations with a long-term investment horizon. In the past, we have made a name for ourselves through successful investments in the value-add sector. Now we are expanding our activities to real estate investments, where the focus is on distribution, value preservation and appreciation. The investment profile of this mandate allows us to offer liquidity solutions and very attractive conditions to the sellers of such premium properties."
"We are very pleased to be setting the starting point for further acquisitions with this first acquisition for the new mandate and are actively looking for properties in the top locations of major German cities across all use classes," adds Simon Lutz, Partner at Peakside. "At the Alte Börse, we are also planning to implement a long-term upgrade in the interior through careful redesign. Thanks to its prominent location, excellent connections and wide range of gastronomic and cultural offerings in the surrounding area, the historic property is one of the most striking properties in Munich."
Peakside plans to keep the building in its portfolio for the long term.
The transaction was brokered by BNP Paribas. Dekor was legally advised by Weimer & Partner. Peakside was advised by NOERR (legal), HauckSchuchardt (tax), PTXRE (commercial buy-side advice), and CBRE (technical and ESG).
