BlackRock Real Estate has purchased a 9,149 m2 office building in Munich known as ‘Campus E’, located in the northern city business district, from the Hines European Core Fund.
The price was kept confidential.
The 2004-built office building is part of an established office cluster and is currently 70% let.
Thomas Müller, portfolio manager within BlackRock’s European real estate business, said: ‘Munich is a key market in Germany due to its strong market fundamentals, diversified economy, and a stable and skilled workforce attracted by a high quality of life.’
