Real I.S. AG has sold an office property in Munich's Schwabing district by means of an asset deal for one of its closed-end mutual funds. The buyer of the property in Ungererstraße is IMAXXAM. The completely renovated property has around 8,200 square metres of rental space spread over six floors. The main tenant of the property is Volkswagen.
"Since the purchase in 2012, we have continuously developed and modernised the office property in a sought-after location. We have now taken the opportunity to sell the fully let property at attractive conditions in the interests of our investors," says Franz Krewel, member of the Management Board of Real I.S. AG.
The building was built in 1986 and completely renovated in 2009. Further renovation measures took place in 2016 and 2022. In the course of this, the façade and furnishings were brought to a high-quality standard. Generous window areas ensure a bright working atmosphere and the flexible floor plan enables efficient use of space in which all modern office forms can be represented. Some of the 101 underground parking spaces are equipped with e-charging stations.
Legally and tax-wise, the transaction was advised by Norton Rose Fulbright. The technical due diligence was conducted by Kroll Real Estate Advisory Group. Colliers acted as an intermediary and Lottum & Schulz was responsible for the preparation and management of the data room.
