Press Release on 1 February 2017
Munich, 1 February 2017 – LPA Munich has advised DIC Asset AG on the acquisition of an office property in the Munich district of Obersendling for one of its specialised open property funds DIC Office Balance. The vendor is Allianz Real Estate Germany GmbH.
Main tenants of the object, which was built in 1994 with approx. 17,300 square meters rental space and 250 parking spaces are FWU AG and the Bavarian railway company. The occu-pancy rate is currently 90 percent. The object is well connected to public infrastructure due to the vicinity of the Mittlerer Ring as well as the excellent connection to underground and urban trains.
The Vendor was advised by CMS Hasche Sigle, Stuttgart.
Including this acquisition, DIC Asset AG has realised acquisitions of more than 520 million Euros in 2016 in total and has thereby exceeded its purchasing target.
Advisors DIC Asset AG:
LPA Rechtsanwälte Steuerberater (Munich): Dr. Fabian Tross (Lead advisor, Real Estate), Dr. Stefanie Riebel (Public Law), Loreen Werner and Victoria Zilliken (Real Estate), Gerhard Köglmeier (Tax)
Advisors Allianz Real Estate Germany GmbH:
CMS Hasche Sigle (Stuttgart)
LPA Rechtsanwälte Steuerberater
Dr. Fabian Tross
phone: +49 (89) 24207255