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New project: CV Real Estate AG acquires existing building in the Bavarian capital Munich

  • First-class investment opportunity with development potential
  • Long-term cash flow secured by highly creditworthy tenant BMW AG
  • Careful management of real estate investments by CV Asset Management

 

(Munich, February 2022) Munich-based CV Real Estate AG continues on its successful course. Only a few days after the sale of the residential development Baufeld WA3 in Nuremberg, the company is now launching a new project in Munich. For this purpose, CV Real Estate AG has acquired an existing building in Lauchstädter Straße. The building complex with a total of 33,500 sqm GFA office space and 513 parking spaces is located on the approximately 20,000 sqm site in the north of Munich. The ensemble is fully leased to BMW AG and is located in the immediate vicinity of the automotive group's headquarters. The overall project offers enormous potential. With it, the CV Real Estate AG, through its CV Asset Management division, is also expanding its involvement in the long-term management and administration of real estate. The seller is a joint venture of JP Morgan and Reiss & Co. The deal was brokered by Colliers International Deutschland GmbH from Munich, CV Real Estate AG was legally advised by the law firm McDermott Will & Emery Frankfurt. The purchase volume of the project is in the high three-digit million range; the parties have agreed not to disclose the exact purchase price.

With the acquisition of the existing building in Munich, the company is further expanding its activities throughout Germany. In addition to its home market of Munich, CV Real Estate AG is also active in Frankfurt am Main and Augsburg. In the Main metropolis, the company is currently planning the premium office property CANYON in the Central Business District, which will set new accents in the banking metropolis with its green facade. In the future, Augsburg will be enriched by the innovative AURUM office property directly adjacent to Augsburg's main train station, for which planning permission was recently granted. The company has planned new projects with a purchase volume of more than one billion euros for 2022.

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