Goodwin advised CONREN Land on the acquisition of a Munich office property through an asset deal for the open-ended real estate special AIF “CONREN Land Büro Invest-Plus,” which is managed by IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH (IntReal). The terms of the transaction are confidential.
The five-story office building on Thomas-Dehler-Strasse 18 in Munich was built in 1988 and has a total space of 9,692 square meters. The current main tenant of the property is the city of Munich.
CONREN Land AG is a leading owner-managed investment company focusing on office real estate in Germany and Spain. Capital investors are institutional investors and family offices from Germany and Spain.
IntReal, based in Hamburg, was founded in 2009 and is a wholly owned subsidiary of Warburg-HIH Invest Real Estate GmbH. IntReal currently manages 781 properties in 13 European countries and has €16.6 billion in assets under administration as of September 30, 2017.
A Goodwin team advised CONREN Land AG on all real estate and tax law aspects of the transaction and was led by partners Marc Bohne and Heiko Penndorf, and included associate Felix Krueger.