Commerz Real fund sells broadcasting centre to MDR

German public broadcaster Mitteldeutsche Rundfunk (MDR) has purchased the broadcasting centre in Magdeburg from the Commerz Real closed-end real estate fund CFB 121. 

Financial details were not disclosed.

'For our investors, the sale is the successful conclusion to an investment that has developed in line with the prognoses,' said Heiko Szczodrowski, divisional head asset structuring portfolio management at Commerz Real.

The public broadcasting company, which has leased the 15,000 m2 property since 1998, had the option to be able to buy the premises after 20 years.

CFB fund 121 has a volume of approximately €61.4 mln, and around €31.5 mln in equity capital. It was issued in 1998 as a classic leasing fund, and will be wound up after the sale.

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