Union Investment acquires Munich office complex for €300m

Union Investment has acquired the planned “Neue Balan Haus 27” office building in Munich. The vendor is Allgemeine SUDBODEN Grundbesitz AG. The parties agreed not to disclose details of the transaction; however, it is estimated to be €300 million ($356 million).

The site on Balanstraße formerly occupied by the Infineon headquarters building has been transformed into a vibrant campus spanning some 8.5 hectares (21 acres) and including a 50-meter (164-foot) pool and a total of around 170,000 square meters (1.8 million square feet) of space for offices, food outlets, retail and fitness, as well as a university and a Montessori school. Haus 27, located at the junction of St.-Martin-Straße and Balanstraße, will offer 32,151 square meters (346, 070 square feet) of attractive office and display space spread over nine floors and inspired by the Bauhaus architectural tradition, with sky gardens and roof terraces.

There will also be parking for 330 cars on two basement