Commercial law firm GSK Stockmann successfully advised Art-Invest Real Estate on the sale of the P11 office building in Munich. The property was acquired by a private investor. Quantum Immobilien AG acted as investment manager and will support the planned revitalisation as service developer.
The existing property at Munich’s Prinzregentenstrasse 11, located between the Isar river and the English Garden, is to be comprehensively revitalised and repositioned over the next three years. The modernisation will focus on structural as well as energy-related and technical improvements. Approximately 4,000 square metres of modern office space will be created over six floors, with the addition of a new top floor and balcony areas.
Units measuring 600 square metres or more will offer space for integrated or flexible usage concepts. Both the façade and the entire technical building services will be modernised as part of the conversion.
An experienced GSK Stockmann team led by Dirk Brückner successfully guided Art-Invest Real Estate through the transaction process by providing comprehensive legal advice.
Advisers of Art-Invest Real Estate at GSK Stockmann:
Dr Dirk Brückner (lead, Real Estate Investments & Asset Management), Katharina Feierabend, Melanie Patrizia Seitz (both Real Estate Investments & Asset Management), Dominik Berka, Stephan Wachsmuth; Sebastian Gerhards (all Tax)
