Europa Capital and Bayern Projekt are in the process of buying the Telefonica Germany headquarters located at Georg-Brauchle-Ring 23-25 in Munich. The price of the deal was not disclosed. The 42,000 sqm office building is prominently located on the central beltway, Mittlerer Ring, near Olympiapark, and is fully leased to Telefonica until 2018. Europa Capital and Bayern Projekt formed a joint venture for the purposes of this investment and plan to completely refurbish the property once Telefonica’s lease expires. Colliers advised the seller, while Regent Gordon and Clifford Chance advised Europa.
“This investment underlines Europa’s capacity to secure attractive assets for its investors in one of the most competitive European markets. New supply is severely constrained in Munich, and we will be delivering, post-refurbishment, a high-quality, sustainable product, adapted for multi-occupancy,” said Nic Fox, partner and head of Central Europe at Europa.
