CLS Holdings plc acquired Network Perlach, an office scheme in southeastern Munich, for €15.3m. Located at Unterhachinger Strasse 75, the property offers 9,449 sqm of office space. It is 88 percent leased and currently generates an annual rental income of €821,000, reflecting a net initial yield of 5.1 percent or 6.2 percent when fully leased. Rents in Munich are on the rise, driven by strong leasing activity. The city’s office vacancy rate has fallen to around 3 percent.
