CONREN Land acquires an office building on Prinzregentenplatz in Munich for Ferrado Inmuebles S.L., Sandra Ortega's real estate company, for more than €168 million.

The building complex is located in Munich's Bogenhausen district, one of the most prestigious office locations in the Bavarian capital, and has a lettable area of around 21,300 m². The property has been awarded the DGNB Silver sustainability certificate and was extensively renovated between 2011 and 2012. As part of an action plan for further optimisation, DGNB Gold certification is being sought. The building is currently fully let to well-known companies.

With the acquisition, Ferrado Inmuebles strengthens its presence in one of the most established office locations in Germany. Munich is one of the economically strongest metropolitan regions in Europe and offers attractive long-term conditions for high-quality office properties.

Ferrado Inmuebles plans to keep the property in its portfolio for the long term and to develop it further as part of its quality and sustainability strategy. CONREN Land will take over the operational management as well as the implementation of the investment plan for the property and will continue to develop the building in the long term.

Ferrado Inmuebles was legally advised by Freshfields.

The Landmark office building at Prinzregentenplatz in Munich. Photos: CONREN Land