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15.12.2016

Patron Capital sells the office building “Connect” in Munich

GSK Stockmann + Kollegen has advised the investor Patron Capital and the asset manager Barings Real Estate Advisers on the sale of the Munich  office building "Connect" on Ridlerstrasse 55 in an off-market transaction.

The "Connect" office building was sold to a British institutional fund manager for EUR 40 million.

The multi-tenant building located in the west of Munich was acquired in 2014 by Patron Capital and Barings with a vacancy rate of 40%. The salesmen have refurbished the 129,300 sqm property and rented out again. The building has five high-quality office storeys and 147 car parking spaces.

After extensive renovation work, fire protection, work on the garages and facades, the building was completely let to high-class tenants. The areas have been fully occupied since November 2015.

GSK Stockmann + Kollegen advised Patron Capital on both the purchase and sale of the office building.


Legal Advisors to Patron Capital Partners and Barings Real Estate Advisers:

GSK Stockmann + Kollegen: Dr. Olaf Schmechel (Lead, Real Estate), Johannes Concato (Real Estate), Christoph Kirsch (Real Estate).

The deal news is available as download.

Contact at GSK Stockmann + Kollegen:
Dr. Olaf Schmechel