DLA Piper has advised KGAL, a German investment and asset manager based in Munich, on the acquisition of the “Streitfeld Lofts” office complex located in Berg am Laim district in eastern Munich, for one of its institutional real estate funds. The seller of the property is one of the BlackRock Real Asset Funds.
The property, completed in 2020, has been awarded the BREEAM sustainability rating of “Excellent” and includes a rental space of 8,400 square meters and 54 underground parking spaces. Centrally located in the Munich Art District of Berg am Laim, it is surrounded by a variety of hotels, studios, museums, and other cultural institutions.
The KGAL Group focuses on the asset classes Real Estate, Sustainable Infrastructure and Aviation, managing an investment volume of more than EUR15 billion.
The DLA Piper team was led by partner Fabian Mühlen (Real Estate, Frankfurt). The team also included partners Dr Marie-Theres Rämer (Tax, Frankfurt) and Florian Bruder (Restructuring, Munich/Frankfurt), counsel Moritz Mursa (Real Estate) senior associates Dr Philipp Reclam (Real Estate), Albina Daka (Tax, all Frankfurt) and associate Dr Leonard von Bargen (Real Estate, Cologne).
