German property firm Quantum Immobilien said on Tuesday that it has negotiated the extension on two office leases totalling 130,000 m2 with occupier Deutsche Bahn.
The German railway company has agreed to take 67,000 m2 of space in the Adlerwerke building in Frankfurt and another 63,000 m2 in the Richelstraße property in Munich.
The Frankfurt complex consists of five buildings completed between 1906 and 1998. The Munich asset is centrally located and was last refurbished in 2000.
Separately, Quantum has sold an office complex in Cologne's banking district to Momeni Investment Management for an undisclosed amount.
Last refurbished in 1989, the property provides roughly 14,200 m2 of space and is 95% leased to Commerzbank.
Momeni made the acquisition on behalf of the Prime Opportunities Fund 1 open-ended fund for German institutional investors.