Munich, 15 June 2021 – The landmark, 38-storey office tower ‘Uptown München’ has a new owner: investor and asset manager DIC has purchased the iconic property.
TA Europe is pleased to have supported this deal with specialist technical advice as part of the Vendor advisory team, to enable the successful sale of the tower, the tallest building in southern Germany with over 52’000 sqm floor area, along with the adjacent Campus C office building and portion of the larger shared Campus site forming the property.
Some members of the vendor technical DD team at TA Europe have been involved, at a previous employer, in supporting the acquisition of the property by our client in 2006. They had also been advising the former owner on an ongoing and intermittent basis since that time, as part of a landlord’s technical representative and in a technical asset management role, alongside property manager Montano.
Lawrence Wainwright, Partner at TA Europe, who knows the property well, commented: “Though of course I and colleagues see the end of the ownership of Uptown by our client as the end of a long and successful chapter, after 15 years of involvement, we are very pleased to have helped support the client from the start of their ownership and through to the recent sale process.
It is no longer very common in the German property market to see a single owner and the same, single-tenant in those roles after such a long time, with largely the same company contacts still involved too. That is testament to the well-organised landlord and property management structure that the owner client and Montano (property manager for Uptown), have in place and which we have been very pleased to have helped and been part of”.