Sirius Real Estate acquires €44m business park near Munich

Business and industrial park owner and operator Sirius Real Estate has agreed to acquire a business park in Feldkirchen, near Munich, for €43.7 mln.

Feldkirchen

This 27,180 m2 park, located on the outskirts of Munich with excellent transport links and close to Sirius's existing Grasbrunn Business Park for operational benefits, is currently 94% occupied. It generates an annual rent of €3.4 mln and has a weighted average unexpired lease term of 7.8 years, with potential for rental growth from some shorter-term tenants. The acquisition reflects an EPRA Net Initial Yield of 7.8%.
The primary tenant, Excelitas, a designer of optical and photonic solutions for defense and other industries, occupies 72% of the park with a lease extending over 10 years. Other notable tenants include OVOL Papier, IWV Institut für Wirtschaftsmathematik, and a Bosch subsidiary.
Andrew Coombs, CEO of Sirius Real Estate, commented: "Feldkirchen is an asset which benefits from strong existing fundamentals and offers future potential for our platform to exploit. Munich has the strongest economy of any German city and is one of Germany's most resilient and sought-after logistics hubs, being home to a strong and diverse range of industries spanning everything from manufacturing, finance, media and technology sectors. We have identified a number of ways to improve the site and to asset manage the rental tone up over time, while Feldkirchen also offers operational synergies, being in close proximity to our existing asset at Grasbrunn. The acquisition also aligns with our strategic focus on positioning ourselves to benefit from increased defence spending, being anchored by a high-quality manufacturing tenant that serves this sector."   
With this latest acquisition, Sirius Real Estate's total investments in income-producing assets across the U.K. and Germany have reached around €340 mln in 2025, including properties in various key locations.