Cain International (‘Cain’), the privately held investment firm operating in the United States and Europe, and its joint venture partner, FREO Group (“FREO”), have agreed the first letting at Koryfeum, an 80,400 sq m office development in Munich. Cain’s European Real Estate Opportunity Fund I (‘EREO I’) acquired a 50 per cent stake in the asset in May 2021.
The joint venture partners have agreed an 11-year lease for 4,200 sq m with Bechtle AG, the largest business-to-business IT service provider by revenue in Germany. Due to take occupancy in April 2023, Bechtle’s employees will benefit from a range of campus amenities, including restaurants and sports and recreational facilities.
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