Munich, 14 December 2020 – TA Europe has advised Barings Real Estate, one of the world’s largest real estate investors, on the purchase of ‘Machtlfinger Höfe’, an office complex in Munich/Obersendling, which is located in the Southwest of Munich. The asset was acquired in an off-market deal from CONREN Land AG. The parties agreed to keep the purchase price confidential.
TA Europe carried out the full technical due diligence of the three office properties, which were built in 2003 and comprise around 21,800 square metres lettable area. The offices within are currently let to 20 different tenants. The scope of TA Europe’s services included detailed review of the relevant technical documentation in the data room, site inspections of each property and the thorough technical risk appraisal as part of the reporting.
Barings expects the surroundings of the office complex to profit mid-term from several new office and urban quarter developments nearby, including the redevelopment of the ‘Ratzingerplatz’ and the construction of a new tramline, adding to the attractiveness and easy accessibility of the asset via public transport. Currently, it is already located in walking distance to Munich’s underground station ‘U3 Machtlfinger Straße’.
Sebastian Frohwann, Partner at TA Europe, adds: “We are very glad to have supported Barings Real Estate in their recent acquisition. As we are deeply familiar with office buildings as an asset class, we could provide Barings Real Estate with all the information they needed to close the deal in time.”