ING Real Estate said it has acquired the Altezza office development project from Germany's Hochtief for an undisclosed amount. The building, located in the Westend district of Munich, will be the fourth German property added to the ING European Office Fund, the company said in a statement. The Altezza project will include some 22,000 m[sup]2[/sup] of space as well as 283 parking spaces. Delivery is scheduled for the first quarter of 2009. 'This office property is centrally located in Germany's most economically vibrant city and represents a highly-attractive investment opportunity', said Leo Weidenaar, fund manager at ING European Office Fund. ING RE said this is the second transaction with the Hochtief group following the purchase of the landmark WestenDuo high-rise towers in Frankfurt am Main at the end of 2006.

ING Real Estate said it has acquired the Altezza office development project from Germany's Hochtief for an undisclosed amount. The building, located in the Westend district of Munich, will be the fourth German property added to the ING European Office Fund, the company said in a statement. The Altezza project will include some 22,000 m2 of space as well as 283 parking spaces. Delivery is scheduled for the first quarter of 2009. 'This office property is centrally located in Germany's most economically vibrant city and represents a highly-attractive investment opportunity', said Leo Weidenaar, fund manager at ING European Office Fund. ING RE said this is the second transaction with the Hochtief group following the purchase of the landmark WestenDuo high-rise towers in Frankfurt am Main at the end of 2006.