A fund managed by JP Morgan Asset Management has joined forces with developer Reiß & Co to acquire the BMW office complex in Munich from Invesco Real Estate.
Although the transaction price was kept confidential, German press reports put it at around €90 mln.
Originally built in 1981 for BMW, the scheme provides 33,340 m2 of office space on Lauchstätter Straße 5-11 and is fully leased to the carmaker, which also occupies a nearby building housing its Research and Innovation Center.
Colliers International as well as law firms Hengeler Müller and Möhrle Happ Luther advised the buyers. Law firm CMS Hasche Sigle acted for the seller.
