Real estate manager AEW has acquired a newly developed prime office building in Germany for an unnamed German pension fund.

The €88bn real estate manager said it has bought THE RUN building at Neumarkter Straße 75 in Munich from developer Neuplan.

The 9,600sqm asset is pre-let to luxury sports and fashion brand Bognar its new German headquarters.

Lars-Henning Pylla, fund manager at AEW, said: “We see the area around Neumarkter Straße as an extension of the nearby and now fully developed Werksviertel, where a predominantly industrial area has also been transformed into a dynamic, attractive neighbourhood.

“The building’s prime location within the Munich “Art District”, coupled with its strong environmental credentials and focus on design and occupier wellbeing, created a highly attractive proposition that helped us attract such a prestigious future-orientated and international occupier as Bogner.”

To read the latest edition of the latest IPE Real Assets magazine click here.