Homburg Invest Inc. has reached an agreement to acquire the newly built headquarters and development centre of Infineon Technologies AG in Munich, Germany from Alliance Group, a Dutch/Swiss investment group with CommerzLeasing und Immobilien AG for EUR 388.5 million consisting of EUR 275,5 million assumption of debt and EUR 110 million in cash.
The acquisition is expected to close on or about June 30, 2006. The property is leased on a triple net basis to Infineon Technologies AG for twenty years. Infineon has a purchase option after 15 years.
The low rise campus was built between 2003 and 2005 and conists of six buildings, each app. 23,000 sqm in size and an underground parking facility for 1,980 cars. Access to parking, all situated beneath the buildings, is via an underground ring road. The campus covers approx. 150,000 sqm floor space above ground including a café, restaurant, various shops, a casino, sports facilities, a health centre and a daycare center.
The complex is situated close to the municipal border in Munich's green belt about 20 minutes to the centre of Munich.
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Sunday, May 21, 2006
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