IMAXXAM Asset Management GmbH has acquired another property for Union Investment’s special real estate fund as part of an asset deal. The modern office property in Gräfelfing near Munich will form part of the German Small Asset Invest I and II funds. Completed in 2011 and fully let, the core property has a total lettable area of around 14,847 sqm and boasts modern architecture with all the requirements placed on contemporary office space.
The property has silver certification according to the standards of the German Sustainable Building Council (DGNB). The main tenant is Philip Morris GmbH with a long-term lease. The seller is a property company of MPC Capital from Hamburg for one of its closed-end real estate funds.
Holger Kohl, Managing Director of IMAXXAM, says of the transaction: “The property in Gräfelfing was an optimal addition to our portfolio for 2021. In the new year 2022, we will continue to focus intensively on acquisitions and intend to invest approximately EUR 500 million in core and core+ properties between EUR 10 and EUR 60 million.
GSK Stockmann Rechtsanwälte Steuerberater Partnerschaftsgesellschaft mbB in Munich acted for the buyer side for the legal and tax due diligence. Lehmann Consult GmbH & Co. KG was responsible for the technical due diligence.
