DLA Piper advises Catella Real Estate on the sale of an office and commercial building in Munich

DLA Piper has advised Catella Real Estate AG (CREAG) on behalf of the open-ended real estate fund Catella MAX on the sale of an office and commercial building in one of Munich's most popular shopping streets to the investment and project development company QUEST Investment Partners. The object is located in Leopoldstraße 7 and was sold as part of an asset deal. The parties agreed not to disclose the purchase price. Built in 1982, the building comprises 3,400 sqm of lettable space and is located on the border of the Maxvorstadt and Schwabing districts.

QUEST Investment Partners is an owner-managed real estate investment company founded in 2016 with offices in Hamburg, Berlin, Munich and Frankfurt. The company, which has a portfolio of around EUR3.4 billion in assets under management, focuses on investments in commercial properties with potential for value growth in selected locations in major German cities.

CREAG, founded in January 2007 and headquartered in Munich, is engaged in the management of real estate special funds as well as in providing advice on investing in real estate. The purpose of the capital management company is the conception, development and management of open-ended real estate special funds, which are aligned with the expertise and market position of the Catella Group. CREAG currently manages assets of EUR5.7 billion in 19 real estate funds.

The Munich-based Real Estate team at DLA Piper was led by partner Dr Martin Haller and also included counsel Dr Manuel Indlekofer and associates Dr Lilian Gutkin and Thomas Herbst. Partner Dr Marie-Theres Rämer and associate Eda Altintas (both Tax, Frankfurt) advised on the tax aspects of the transaction.