Generali Real Estate has acquired a prime office site in Munich from Art-Invest Real Estate for the fund manager’s German corporate headquarters. While financial details were not disclosed, sources said the purchase price was in the region of €150m.
Generali Deutschland will consolidate its Munich and Augsburg offices into a new group headquarters on the site in Munich’s Werksviertel district. The so-called Momenturm project at Rosenheimer Straße139 was acquired by Art-Invest in 2019. Generali Real Estate will develop a new block on the site, expanding the available office space from 11,000sqm to around 28,000sqm. The development is expected to complete by the end of 2028.
Lukas Jeckel, head of central northern Europe at Generali Real Estate: “This first-class office property complements our real estate portfolio in Germany and in Munich in particular. The state-of-the-art office space meets our requirements for new and innovative working environments as well as our sustainability standards.”
Tobias Wilhelm, managing director at Art-Invest Real Estate in Munich, said: “We are delighted that we were able to attract a high-profile owner-occupier for the Momenturm with Generali Deutschland. Our project idea of a future-oriented office building that offers its users more than just a place to work is in line with the vision Generali Deutschland has for its new corporate headquarters.”
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