Clément Konrad & Partners has advised, alongside LPA Munich, DIC Asset AG on the acquisition of an office property in the Munich district of Berg am Laim. The transaction was conducted by way of a share deal.
The fully rented property, which was built in 2002, contains approx. 18.300 square meters of rental space and 247 parking spaces.
DIC is one of the leading listed real estate companies in Germany and is focused on commercial properties. With approx. 20 years of experience on the German real estate market, the company is represented by six regional offices in all important German markets and is administrating approx. 180 assets with a total market value of approx. 3.3 billion Euros.
Seller of the property is PGIM Real Estate, the global real estate investment arm of PGIM PGIM Inc., which is the asset management arm of American life insurance company Prudential Financial.
Clément Konrad & Partners: Christophe Clément (Partner), Jens Konrad (Partner), Reda Faid (Associate)
LPA Munich: Dr. Fabian Tross (Partner, Lead Advisor, Real Estate), Andreas Feuerstein (Partner, Finance), Marcel Graf (Senior Associate, M&A/Real Estate)