Munich: Quantum buys AXA property “Baloon”
Quantum has acquired the Munich office building “Baloon” from a mandate managed by AXA IM Real Assets for a real estate fund launched by Universal-Investment. The two-part ensemble has 22,000 sqm lettable space and was part of AXA’s portfolio since 2016. While one section is leased to the city of Munich for a very long term, the second building with about 12,200 sqm is currently being revitalized. Munich-based Real Asset GmbH supported AXA IM – Real Assets as local development manager. Quantum is taking on the completion of construction measures, which is scheduled for after Q2 of 2019, and will also market the property.
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