Allianz Real Estate has bought back an office building it occupies in the Munich area from a Whitehall fund for a sum put by German market sources at €200 mln.

Allianz Real Estate has bought back an office building it occupies in the Munich area from a Whitehall fund for a sum put by German market sources at €200 mln.

Allianz confirmed the acquisition to PropertyEU but would not comment on the price.

The 60,000 m2 property, which is located in Unterföhring near Munich in southern Germany, houses the majority of Allianz RE’s German workforce and forms part of a larger complex.

Allianz originally sold the building to Whitehall in 2007 as part of a package of 190 German properties in a deal totalling €1.7 bn. Two other buildings in the complex were sold in the same year to IVG Immobilien for €320 mln.

The buyback comes hard on the heels of Allianz's acquisition of the Isartor mixed-used property in the centre of Munich from UBS Real Estate for €120 mln.