Ashurst advised Warburg-HIH Invest Real Estate GmbH (Warburg-HIH Invest) on the sale of the Sky office building at media location Unterföhring, near Munich, to Union Investment Real Estate Austria (Union Investment Austria).

Until now, the property, which is fully rented to media company Sky Deutschland, belonged to the real estate special fund Warburg-HI Pan-Europa Fonds Nr. 3, one of the best performing special funds of the benchmark index SFIX.

Union Investment Austria acquired the 7,200-square-meter office building at Beta-Straße 11 for an open-ended real estate fund for Austrian private investors.

Ashurst advised with a team led by real estate partner Dr Liane Muschter. She was assisted by counsel Nicolas Deuerling, associate Sven Nickel and paralegal Anja Stötzel (all real estate). Partner Dr Martin Bünning advised on tax law (all Frankfurt).

Ashurst's longstanding client Warburg-HIH Invest is a real estate investment manager serving institutional investors and covering the entire spectrum of national and international real estate investments. Warburg-HIH Invest is one of Germany's leading managers of real estate special AIF with more than €5 billion in real assets under management, and a comprehensive track record in designing and implementing individual investment solutions.