DIC Asset AG has paid €635 million ($774 million) for two office properties, Uptown Tower and Campus C, in Munich.
With a height of 146 meters (479 feet), the Uptown Tower is the tallest building in the state of Bavaria. With the acquisition, DIC Asset AG transacted its largest investment in the Bavarian state capital to date and will benefit long-term from the economic development of the metropolis. Both properties are fully tenant-occupied. The transfer of benefits and burdens for both of the properties is scheduled for the end of the second quarter of 2021.
“We acquired two of Munich’s defining landmark properties. This acquisition demonstrates just how well we are networked in the market. Whenever trophy properties like these come onto the market, we stand every chance of success, creating value for our investors and for ourselves,” said Sonja Wärntges, CEO of DIC Asset AG. “Moreover, we now have an
even stronger presence on Munich’s market with
