Munich: KGAL buys “tag.werk” building from Indigo Invest
KGAL has acquired the “tag.werk” office building in Munich from Indigo Invest Gruppe for a real estate fund. JLL was the broker; DLA Piper advised the seller. The building on Destouchesstrasse in the Schwabing District dates from 1983. It was substantially renovated in 2008/2009 by Münchner Grund; it comprises a total rental space of 10,500 sqm plus 115 parking spaces. The Spezial-AIF was created in 2014 with a targeted investment volume of nearly €500mn. This acquisition – the fund’s fifth so far – brings the total investment to more than half that goal. Law firm Taylor Wessing advised KGAL for the transaction.
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