Munich: UBM buys development property in Alt-Perlach
UBM Development Deutschland has acquired a research and development property on Unterbiberger Straße 15 in Munich’s Altperlach district. As TD learned from market insiders, the purchase price was €16.5mn. There are currently three buildings with 11.000 sqm lettable space on the 6,800 sqm site. The location will probably still be used as a research and development facility until mid-2018, then vacated and repurposed, as stated in a release. According to TD research, the investors are envisioning construction of a residential complex. The seller was legally advised by the law firm of DLA Piper, technical consulting was provided by CBRE Preuss Valteq. The Munich office of CBRE brokered the transaction. The sale of the property was conducted in a structured bidding process.
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