Fidelity International said its Pan-European Real Estate Fund has made its first investment in Germany with the acquisition of a Munich office building for EUR 17.85mln. Fidelity said the purchase price for the building, which is fully let to Olympus Life Science Research Europa, reflects a yield of 5.9%. The tenant has just completed fit-out works and taken a new ten-year lease with annual indexation.
CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has inked a strategic partnership with Covivio in Germany.
