CMC Capital purchases Electrolux headquarters

CORK-based property investment company CMC Capital has purchased the headquarters of global domestic appliance firm AEG-Electrolux in a €60 million investment.

The property, which is located in Nurnberg, Germany was purchased in the form of a sale and lease-back arrangement, which sees AEG-Electrolux taking a long lease for office accommodation on the site.

It will retain its international headquarters building, which covers 20,000sq m, leaving the opportunity for further development on the rest of the 150,000sq m site.