- The BlackRock Eurozone Core Property Fund has bought a newly developed office building in Munich in an off-market transaction.
- TA Europe has advised the BlackRock Eurozone Core Property Fund during the acquisition process and provided technical consultation and project monitoring services for the property until the completion of the works.
- This transaction is one of several where BlackRock relied once again on TA Europe’s expertise.
Munich, 3 February 2021 – TA Europe has advised BlackRock on the acquisition of the high-quality, newly developed office building ‘Streitfeldlofts’ in Munich. The property is located in the Berg am Laim district, a mixed residential and office neighbourhood. The BREEAM certified building was completed in June 2020. It stands out due to its high-quality tenant fit-out, flexible floor plans which accommodate new ways of working, and impressive outdoor facilities including roof terraces.
TA Europe was commissioned to carry out the complete technical project monitoring services of the office complex, which comprises a total of 8,360 square metres and includes 45 parking lots. The scope of TA Europe’s services consisted of regular construction monitoring including comprehensive technical consultation during the handover process.
In more detail, this included the monthly site visits to check the quality and timing of the project deliverables, controlling the planning and construction of the object, the early identification of potential defects and follow up until their elimination and the related client reporting.
TA Europe’s services during the handover process included, but were by far not limited to the examination of the construction work to ensure conformity with the agreed condition, the checking for completeness and the attendance of the final handover with an expert team making sure that the building construction, M&E and fire safety were all on point.
In addition to TA Europe, Cushman & Wakefield, Linklaters and SMV advised the BlackRock Eurozone Core Property Fund on the acquisition and during the construction phase.