German fund manager KGAL has acquired an office building in Munich-Schwabing on behalf of special alternative investment fund (AIF).
German fund manager KGAL has acquired an office building in Munich-Schwabing on behalf of special alternative investment fund (AIF).
The financial details were not disclosed.
The eight-storey office property, 'tag.werk', was built in 1983 and totally renovated in 2008-9. It comprises a total of 10,500 m2 of rental space and 115 parking spaces.
The seller of the property is the Indigo Invest Group. The transaction was brokered by JLL.
This is the fifth investment for the €500 mln special fund that was launched in 2014. Further investments in office and commercial buildings as well as speciality shopping centres are in the pipeline.
