Clifford Chance advised BlackRock Real Estate, a subsidiary of international asset manager BlackRock, on its sale of Campus E located in Munich to Leading Cities Invest (LCI) of KanAm Grund. The open-ended real estate fund acquired Campus E for approximately EUR 50 million. BlackRock Real Estate had purchased the office complex in 2016.

The building, which was erected at Georg-Brauchle-Ring in 2004, is located in close vicinity to the "O2 Tower". It consists of an area of approximately 9,200 square metres on seven floors and also has 85 parking spaces. Its core user is it@M, who are in charge of the IT administration for the City of Munich. The building is fully let (100%) and the average remaining term of the indexed leases is 6.6 years.

BlackRock manages assets all over the world totalling USD 5.12 trillion (as per 14 December 2016) and has more than 13,000 employees working in over 70 offices in 30 countries.

The Clifford Chance team was led by partner Cornelia Thaler and included counsel Dr. Kristina Jaeger, senior associate Dr. Sebastian Schmitt  (all Frankfurt), associate Agnieszka Anna Pikul (Munich), transaction lawyer Magda Pawela-Häusler (Frankfurt, all Real Estate) as well as partner Dr. Uwe Schimmelschmidt and counsel Anette Hofmann (both Tax, Frankfurt).