ABG Real Estate Group, together with HanseMerkur Grundvermögen (HMG), has formed a consortium of German institutional investors to acquire the Qubes office property in Munich's Moosach district. The recently built complex is situated in the established Olympia Business District at Agnes-Pockels-Bogen 27/33 and forms a structural component of the Technologie Campus Munich. BayernLB acts as the financing partner for the transaction. All parties involved have agreed not to disclose the purchase price.
The property originates from the portfolio of a project company undergoing self-administered insolvency proceedings. The structured sales process was initiated by the insolvency administrator firm JAFFÉ Rechtsanwälte Insolvenzverwalter and handled operationally by estate agent CBRE. On the buyer side, the law firm McDermott Will & Schulte Rechtsanwälte Steuerberater LLP provided legal advice. IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH will act as the capital management company for the investment vehicle. As the group of institutional capital providers is already definitively set, no further distribution of the investment fund will take place.
Full letting to the public sector and structural key data
Completed in 2023, the complex comprises five interconnected building blocks with up to five storeys above ground and two basement levels. The lettable area amounts to around 25,000 square metres and is fully leased to the IT service centre IT@M of the City of Munich, which is why the property is also referred to as the IT Town Hall. The contractual framework features an above-average weighted average unexpired lease term (WALT) of 30 years.
In structural terms, the building was constructed using a reinforced concrete frame with a thermally insulated aluminium unitised facade. User comfort is provided by openable windows, electrically operated external solar screening and a mechanical ventilation system. The complex holds DGNB Gold and LEED Gold sustainability certifications. The property includes 341 underground car parking spaces, five external parking spaces and dedicated bicycle parking facilities.
Long-term management and strategic orientation
Following completion of the transaction, HanseMerkur Grundvermögen will advise IntReal on fund management, while ABG Real Estate Group will be responsible for operational asset management. According to Malte Andes, Deputy Chairman of the Management Board of HMG, the property combines long-term calculable cash flow with high income security, providing security-oriented investors with a dependable planning basis. Ulrich Höller, Managing Partner of ABG Real Estate Group, highlights the proven cooperation between the two companies, which served as the foundation for creating the conditions for this joint acquisition.
The location in the north-west of the Bavarian capital is notable for its proximity to several major companies and DAX-listed corporations. Direct links to local public transport are available via the nearby Georg-Brauchle-Ring and Westfriedhof underground stations. For private road transport, swift access to the Mittlerer Ring as well as the A8 and A99 motorways provides an efficient infrastructure.
