Munich-based real estate developer and asset manager ACCUMULATA plans to acquire Motorama Ladenstadt, a shopping mall in Munich, in a joint venture with U.S. investment manager Angelo Gordon, Schmülling Beteiligung, and an affiliate of L-REA.
The buyers were legally represented by Clifford Chance LLP, and tax advice was provided by Ernst & Young.
“We are looking forward to our first investment in the Munich real estate market and see the great potential of the property. The central downtown location and the size of the building complex qualify the Motorama for many different uses. We look forward to contributing our experience gained in the active management of urban neighborhoods, such as Chelsea Market in New York, as part of the planned repositioning,” said Marcel Hertig, director at Angelo Gordon.
The 24,000-square-meter (258,334-square-foot) building complex at Rosenheimer Strasse 30 will be repositioned, with a contemporary mix of uses that will e
