BNP Paribas REIM Germany has purchased the Art Déco Palais on Munich’s Arnulfstrasse for one of its real estate Spezialfonds. The price of the deal was not disclosed. The 41,000 sqm office building is located near the Munich central train station and is currently fully leased. The tenant mix includes Deutsche Post as well as HR, bank, insurance and energy companies. Drees & Sommer and Clifford Chance advised BNP Paribas REIM Germany in the transaction, while Savills was the seller’s exclusive adviser.
