22.Mar 2017

Europa Capital and Bayern Projekt to buy Telefónica Headquarters in Munich

Europa Capital, together with its local partner Bayern Projekt, have committed to acquire the Telefónica Germany headquarters located at Georg-Brauchle-Ring 23-25, Munich.

The 42,000 square metre office building is prominently located on the central beltway “Mittlerer Ring” near the Olympiapark, and is fully leased to Telefónica until 2018.

Europa Capital and Munich-based Bayern Projekt have formed a joint venture for the purposes of this investment and will conduct a comprehensive refurbishment programme upon expiry of the Telefónica lease.

Nic Fox, Partner and Head of Middle Europe at Europa, commented: “This investment underlines Europa’s capacity to secure attractive assets for its investors in one of the most competitive European markets. New supply is severely constrained in Munich and we will be delivering, post refurbishment, a high quality, sustainable product, adapted for multi-occupancy”.

Sven Renz, Managing Partner of Bayern Projekt, added: “We are pleased to invest alongside Europa in this exciting opportunity, which complements our existing development portfolio in Munich and presents an exciting opportunity to repeat recent success stories in the immediate neighbourhood. The asset has an efficient layout for a multi-tenant conversion and boasts unique features including an outdoor recreation area and roof terraces with a spectacular view over the city and the Alps.”

Colliers advised the seller and Regent Gordon and Clifford Chance advised Europa.

About Europa Capital:

Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors. Since 1995, Europa Capital has collectively raised 9 real estate funds and committed to over 105 transactions totalling more than €9.5 billion across 19 European countries.

The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.

Europa Capital is a member of Rockefeller Group International, Inc. (“RGI”). RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct

Authority. Further information can be found at www.europacapital.com

About Bayern Projekt:

Bayern Projekt GmbH (‘Bayern Projekt’), is a Munich based commercial real estate development and investment company with a 20-year history. During this time, investments valued at over €750.0 million have been developed, managed and transacted. The founder, 100% owner and managing partner of Bayern Projekt is Sven Renz, FRICS.

As the leasing manager, Bayern Projekt was responsible for managing the leaseup of the project ‘Uptown Munich’, a prominent c. 80,000 sq. metres high rise office building opposite the Telefonica HQ. Currently, Bayern Projekt is developing Bavaria Towers, a commercial building complex including three high rise office towers and a hotel with a total project volume of approximately 76.000 sq. metres.