CA Immo has sold the Langes Land residential development project in the southeast of Germany to real estate investment firm Empira for an undisclosed sum.
The Langes Land urban district was developed by CA Immo in cooperation with the city of Munich as a new, contemporary home with a total of around 950 flats for around 2,000 residents.
In addition to the apartments, the complex is planned to accommodate three daycare facilities and six commercial units.
CA Immo, which sold the property with building rights to Empira in December 2022, said Empira also assumes all of CA Immo’s obligations under the urban-planning contract.
The transaction is expected to close at the end of the first quarter of 2023.
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