Catella acquires 15,500 m2 office block in Germany

Catella Real Estate has acquired a 15,500 m2 office development outside Munich for its regional special property fund.

The Cube München Sud building in Taufkirchen, on the southern outskirts of the Gerrman city, was bought from Octogon Capital Unternehmensgruppe. The property is fully let and has recently undergone a complete renovation.

The acquisition for the ‘Immo Spezial – Wirtschaftsregion Süddeutschland’ fund brings the total property value of the fund to €200 mln, 98% of which is leased and occupied.

Christoph Lauchs of Wendler Tremml was the legal adviser to Catella, while Octogon was advised by Hogal Lovells. BNP Parisbas Real Estate’s Munich branch also advised on the sale.

Catella Real Estate AG’s total property portfolio comprises assets of more than €2 bn.