International law firm Watson Farley & Williams (“WFW”) has advised PATRIZIA Immobilien AG (“PATRIZIA”) on the acquisition of an office block on Munich’s Leopoldstraße on behalf of its PATRIZIA GrundInvest estate fund aimed at private investors. Built in 1972 and located in Munich’s central Schwabing district, the seven story building offers approx. 10,000 sqm rental space and was completely refurbished in 2015. Its current main tenant for the past 20 years is the famous Bavarian International School, which offers a first class English language education for the children of expatriates and professionals.
Headquartered in Augsburg and listed on Germany’s SDAX stock exchange, PATRIZIA offers institutional investors direct and indirect real estate investment opportunities across Europe. The fund that acquired the Leopoldstraße building is the company’s fifth aimed specifically at private investors. Patrizia has offices in eight German cities, as well as subsidiaries in Amsterdam, London, Paris, Luxemburg, Copenhagen, Helsinki, Stockholm and Madrid.
The WFW team advising PATRIZIA was led Munich Real Estate Partner Bettina Krause. She was supported by Tax Partner Gerrit Bartsch, Banking & Finance Partner Thomas Hollenhorst, Real Estate Senior Associate Eckrolf Berg as well as the Associates Dr Paul-Vincent Hahn (Banking & Finance), Julia Gallinger (Tax) and Roman Schneider (Real Estate).