Mitsubishi Estate, through its UK subsidiary Mitsubishi Estate London Ltd., acquired Feringastrasse 10-12 in Munich on June 1. The property is an office building located northeast of central Munich and is the company’s first acquisition in Germany.
     Munich boasts the largest office building market in Germany and, bolstered by the robust macro-economy, is rated one of the leading markets in Europe. The city hosts automobile companies, many insurance and other financial institutions and, in recent years, a number of IT companies and startups because of its excellent environment. Unterfohring, the district where the newly acquired property is located, is close to an autobahn which links the airport and central Munich and provides access to the airport in just 20 minutes by car.
     Since it established its subsidiary in the UK in 1986, Mitsubishi Estate has expanded its real estate development and leasing business and today owns nine office buildings in London and one in Paris. In the acquisition of the property in Munich, British real estate investment firm Europa Capital, in which the company made an equity participation in 2010, worked with Mitsubishi Estate London in acquiring property information and will provide asset management service.
     The Mitsubishi Estate group intends to seek further growth in its global business as it leverages Europa Capital’s knowhow to expand its Europe portfolio.