Publity bought an office building located at Leopoldstrasse in Munich’s Schwabing district from a bank foreclosure. The property was built in 2001 on a 6,816 spm plot. It offers 11,280 sqm of rental space and 135 parking spaces. The building is currently 93 percent occupied. The price of the deal was not disclosed. However, Publity said development costs topped €40m. The company was advised by Drees & Sommer and CMS Hasche Sigle. Angermann brokered the deal.
