Overview
Düsseldorf, November 15, 2024 – McDermott Will & Emery has advised Union Investment Real Estate GmbH on the sale of the property “FÜNF HÖFE” in Munich. The off-market transaction is one of the largest single asset transactions in Germany this year.
The FÜNF HÖFE urban center comprises around 26,700 square meters of office and practice space, around 14,000 square meters of retail space and 2,500 square meters of catering space. FÜNF HÖFE also includes the Kunsthalle München art gallery and several residential units.
Union Investment acquired the property in 2003 for the open-ended mutual real estate fund UniImmo: Europa and will continue to manage FÜNF HÖFE as asset manager after the closing.
With approximately €57 billion in assets under management, Union Investment is one of the largest providers of real estate solutions for private and institutional investors in Europe. The company invests in the office, retail, hospitality, logistics and residential sectors and has a portfolio of around 500 properties in 25 countries around the world.
McDermott team was led by partners Jens Ortmanns, Thomas Beisken and Frank Müller, and included partners Christoph Coenen, Carina Kant and Steffen Woitz as well as associates Alina Affeld, Michelle Leverkus and Marion Dalvai-König.
