Munich: Quantum buys office building in Parkstadt from Patrizia
Quantum has acquired the multi-tenant office property “Parksite” in Munich’s Parkstadt Schwabing for an individual fund launched by BNP Paribas REIM Germany. The seller is Patrizia. The four-story office building on Wilhelm-Wagenfeld-Straße 1-3 with more than 8,000 sqm was erected in 2008 and is fully leased. Patrizia asked €6,300/sqm for the building, which corresponds to a purchase price of about €50mn, as TD learned from market insiders. The buyer was advised by Neuwerk Rechtsanwälte. CBRE and Luther Rechtsanwaltsgesellschaft provided consulting for Patrizia.
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