DLA Piper has advised Barings Real Estate on the acquisition of an office building in the Obersendling district of Munich. The asset was acquired in an off-market transaction, at the same time as the conclusion of a long-term anchor lease to Music Support Group (MSG) and the Akademie Deutsche Pop. The property was sold by two private investors.

The office building is situated in a positively developing location south of Munich city centre, close to 1,100 new residential units, two hotels and several newly constructed retail properties. The building provides a lettable area of over 10,000 m², about 3,000 m² of which will be occupied for the long term, by MSG as its head office and by the Akademie Deutsche Pop as teaching rooms. There are 137 parking spaces in the two-level underground car park.

Barings Real Estate Advisers, which is part of Barings, is one of the world’s largest diversified real estate-focused investment advisers. The group is an active investor in private and public, equity and debt markets and provides core, value-added and opportunistic investment and advisory services to institutional and other qualified investors around the globe.

The DLA Piper team was led by Real Estate partner Lars Reubekeul (Munich), assisted by Cologne-based Corporate partners Dr Cornelius Frie and Martin Heinsius, Tax senior associate Gitta Gehring (Frankfurt) and Real Estate associate Philipp Moser (Munich).