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Munich refurbishment project sold to prestigious asset manager

BayernImmo's Real Estate M&A team has successfully brokered the sale of a refurbishment project in Munich financed by BayernLB.
The seller is a joint venture between Lang & Cie. Real Estate AG, Projekt Art GmbH and Bremer | Management.Consultant, all of which are renowned project developers. The purchaser is a well known asset manager.

The building was erected in the mid 1980s and provides approximately 11,000 sqm of rental space. A DAX-listed company signed a 10-year lease for the entire property and converted it into a state-of-the-art academy which holds courses for national and international clients.

The building was re-sold prior to completion of the refurbishment work.

08.07.2013 BayernImmo