Stuttgart – Allianz Real Estate has acquired the Kap West office development project in Munich on behalf of various Allianz companies. The vendor is Frankfurt-based OFB Projektentwicklungs GmbH, and completion of the building is scheduled for summer of 2019. The purchase price was not disclosed.
A CMS team headed by lead partner Dr Volker Zerr and lead counsel Dr Sabina Krispenz advised Allianz Real Estate on all real estate law and corporate law aspects of the transaction.
The Kap West office building is expected to gain LEED Gold certification. The property offers 42,000 sq m of lettable space, of which 85 per cent is intended for offices. The remaining space will be used for retail premises, restaurant facilities and a top-end fitness studio. The building also features 356 underground parking spaces, plus room for 200 bicycles.
Allianz Real Estate is the strategic competence centre for the real estate activities of the Allianz Group. It is a leading international property investment and asset manager, with assets under management of around EUR 50 billion. Allianz Real Estate is headquartered in Munich and Paris.
OFB Projektentwicklungs GmbH is part of the Helaba Group. It operates in the area of Project development and project management of major high-quality properties. Its focus is on office, administrative and commercial real estate. OFB currently holds investments worth EUR 2.4 Billion.
The CMS team regularly advises Allianz on acquisitions, sales and finance for real estate, including most recently the sale of the Cloud9 office portfolio to Patrizia.
Dr. Volker Zerr, Partner, Federführung
Dr. Simon Marschke
Dr. Carsten Giersch, beide Counsel
Jacqueline Terhöven, Senior Associate
Dr. Martin Prothmann, Associate, alle Real Estate & Public
Dr. Maximilian Grub
Dr. Kai-Guido Schick, beide Partner
Dr. Sabina Krispenz, Counsel, Co-Federführung
Dr. Tobias Will, Associate, alle Corporate
Dr. Klaus Ikas, Partner, Intellectual Property
Dr. Christian Friedrich Haellmigk, Partner, Competition & EU
Roland Wutzke, Partner, Tax law