The investment manager WealthCap has acquired the new headquarters building for BayWa in Munich for €280m in what’s being described as a forward deal. The 54,000 building, among the 10 tallest buildings in the Bavarian capital, is currently undergoing renovation work that should complete in October 2017. BayWa agreed with the project developer Competo Capital to form a 50-50 partnership in the scheme and to sell the building with a 20-year lease to BayWa. The acquisition was brokered by JLL. The building is expected to receive a LEED Gold certificate.
