Europa Capital, a pan-European real estate investment manager, alongside its joint venture partner Bayern Projekt, has sold Olympia Business Center (OBC), a 38,000-square-meter (409,030-square-foot) office building in Munich, on behalf of its value-add fund, Europa Fund V.
Since acquiring the asset in 2017, Europa Capital and Bayern Projekt have undertaken an extensive refurbishment of the OBC, which achieved a LEED Gold certification and a WiredScore Platinum certification. This project led to the creation of roof terraces, a new restaurant/café, a double-story lobby area, and the creation of a Markthalle (market hall) concept for employees, which has been designed to foster co-eating and co-working.
During the refurbishment, Europa Capital and Bayern Projekt agreed a number of key leases at the OBC, which is currently 60 percent occupied. Recent leasings totaling 8,500 square meters (91,495 square feet), which will take occupancy to 80 percent, have been agreed on l
