Press Release, 17 February 2020
Munich, 17 February 2020 – LPA-GGV Munich advised
M-CONCEPT Real Estate on the sale of the office building planned in its new residential and business quarter “Paseo Carré” in the Munich district of Pasing to Warburg-HIH Invest Real Estate.
Warburg-HIH Invest Real Estate acquired the office building for an individual fund of Rheinische Versorgungskasse. The parties have agreed not to disclose the transaction volume. The transaction was concluded by way of a forward funding deal.
Shortly before the sale, M-CONCEPT Real Estate entered into a lease agreement for the office building with the City of Munich, which plans to set up the “Sozialbürgerhaus” in the office building. LPA-GGV Munich also acted as advisor during the leasing process.
In addition to the office building, M-CONCEPT Real Estate is planning to erect six further buildings with modern condominiums, apartments and smaller retail spaces in the quarter. The construction will start in the first quarter of 2020. The office building should be ready for occupancy by March 2022 at the latest.
LPA-GGV legal tax (Munich): Dr. Fabian Tross (Partner, Lead Advisor, Real Estate), Marcel Graf (Local Partner, Real Estate), Gerhard Köglmeier (Senior Associate, Tax), Dorothea Schimmel (Local Partner, Real Estate), Maximilian Amrhein (Associate, Real Estate)
Ashurst LLP (Munich): Liane Muschter (Partner, Real Estate)
City of Munich: