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12.04.2018

GSK Stockmann advises Officefirst Immobilien GmbH on the sale of Munich Pallas-Haus to special funds

Officefirst Immobilien GmbH (Blackstone Group) has sold the Munich Pallas-Haus from the Officefirst portfolio to BNP Paribas Reim Germany and the Cording Real Estate Group with comprehensive advice on real estate law from GSK Stockmann.

The Pallas-Haus at Leopoldstrasse 236-238 in Munich, built in 1990, was sold by Officefirst Immobilien GmbH and will be contributed to the Real Value Fund.

The four-storey office building with a total rental area of around 10,300 sqm is almost completely let as office space. The use of the remaining 1,300 sqm goes, among other things, to a kindergarten. The natural stone facade, whose front is glazed up to the second floor, is supposed to remind of the classical Greek temple architecture. This is the reason why the building is named after the patron goddess Pallas Athene.

The transaction was comprehensively advised by GSK Stockmann with respect to real estate law on the seller's side. Silence has been agreed on the purchase price.

Advisor Officefirst Immobilien GmbH:
GSK Stockmann: Dr. Michael Eggersberger (Lead, Real Estate), Monique Franke (Real Estate), Stefan Koser (Banking); Associates: Çağlayan Birkan, Katharina Treichel (both Real Estate).