Tall & Urban News

Leading German Asset Manager Acquires High-Rise in Munich

The 18-story, 24,000-square-meter Blue Tower is the second tallest tower of the four-part high-rise complex along the Einsteinstrasse in Munich.
The 18-story, 24,000-square-meter Blue Tower is the second tallest tower of the four-part high-rise complex along the Einsteinstrasse in Munich.
16 March 2020 | Munich, Germany

International investment firm Von der Heyden Group announced the sale of Blue Tower at the Bavaria Towers complex to leading asset manager on the German market Real I.S consortium, after having secured long-term lease contracts for the project. The 18-story, 24,000-square-meter Blue Tower acquired from the Group with codevelopers BayernProjekt and co-investors Zurich Gruppe Deutschland, is the second tallest tower of the four-part high-rise complex along the Einsteinstrasse in Munich. The tower has been sold at a record yield of less than three percent.

The investment was made by Bayerische Versorgungskammer (BVK) fund managed by the largest AIFM in Luxembourg, Universal Investment. Real I.S.'s asset management mandate and purchase transaction included the asset and SPV management of the tower, complete with long-lease tech giant tenants NVIDIA and BayernHeim as well as Golding Capital Partners. The sale was collaborated by Colliers International and law firm Arnecke Sibeth Dabelstein where the parties have agreed not to disclose the acquisition price.

Sven von der Heyden, Chairman, and founder of the Von der Heyden Group said “the Bavaria Towers was one of the first major high-rise projects to be approved in Munich in a long time. Over the span of fifteen years, we strived for pioneering architecture, a community-oriented concept, and an A-class tenant structure to deliver a spectacular development that would redefine Munich’s Eastern cityscape.”

“His project has been seeing difficult times as well, but the persistence of our equity partners, the tireless hard work of our advisors, consultants but foremost the team of Bayern Projekt have made this an outstanding success," he added.

For more on this story, go to Europa Property.