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Union Investment has signed the contract for the sale of the office property at Prinzregentenplatz 7-9 in Munich. The transfer of benefits and burdens is expected to take place at the end of June this year. The buyer is a company managed by CONREN Land. The sale price was not disclosed. It is above the most recently determined expert value.
The building ensemble in the Bogenhausen district has around 21,332 m² of rental space, is DGNB Silver certified and was completely renovated in 2011/2012. In 2011, Union Investment acquired the property for the portfolio of the open-ended real estate fund UniImmo: Deutschland.
"The sale is a good example of our active asset management approach: After our single tenant GSK, formerly GlaxoSmithKline, downsized in house no. 9, we converted the building into an attractive and functional multi-tenant property and were able to win over Finn GmbH on the second floor as well as Immobilien Freistaat Bayern for the entire first floor. By leasing to the Bavarian state-owned company, full occupancy was restored as of April 2026, thus creating the conditions for a successful sale in a market environment that continues to be difficult," explains Alejandro Obermeyer, Head of Investment Management DACH at Union Investment.
The office building has generated a solid cash flow for the fund over the holding period of around 15 years. The sale is being carried out for strategic reasons in order to rejuvenate the portfolio and reduce the relatively high weighting of the Munich metropolitan region in the fund. At the same time, the fund management of UniImmo: Germany wants to take advantage of the still young new market cycle and invest. The shopping list includes office properties in the classic gateway cities in Europe such as Paris and London, but the German office property markets are also interesting. The liquidity ratio of UniImmo: Germany is currently around 20 percent.
Union Investment was advised by real estate service provider Newmark, Hogan Lovells and Pöllath + Partner.
