Norton Rose Fulbright advises Real I.S. on the sale of an office building in Munich to IMAXXAM

Global law firm Norton Rose Fulbright has advised Munich-based real estate company Real I.S. AG on the sale of an office building located at Ungererstraße 67-69 in Munich to IMAXXAM. The property was acquired by IMAXXAM for its real estate fund German Small Asset Invest II.

The fully refurbished property comprises approximately 8,215 square meters of rental space across six floors, along with 101 underground parking spaces. The existing lease agreement with the main tenant, Volkswagen, runs for about four more years and includes two renewal options of five years each.

The Real I.S. Group has specialized in real estate investments for over 30 years and serves as the fund service provider of BayernLB. As part of the Sparkassen-Finanzgruppe, it ranks among the leading asset managers in the German market. In addition to alternative investment funds (special AIFs and closed-end public AIFs) and an open-ended public real estate fund, its product and service portfolio includes customized fund solutions, club deals, joint ventures, and asset management mandates for institutional clients. More than 75 percent of the total portfolio is classified under Article 8 of the EU Disclosure Regulation. Real I.S. Real Estate Management GmbH complements the range of services. The Real I.S. Group manages around €12.5 billion in assets and operates two licensed capital management companies (KVGs) under the German Investment Code (KAGB), with offices in France, Luxembourg, Spain, the Netherlands, Ireland, and Australia.

Lead Partner Dr. Maren Stölting (Real estate law, Munich):

"The sale of the fully refurbished office property at Ungererstraße 67-69 to IMAXXAM underscores the attractiveness of the Munich real estate market for institutional investors. We are pleased to have once again provided legal support to Real I.S. in this transaction and contributed to the successful execution of its fund management strategy."

The Norton Rose Fulbright team also included Counsel Dr. Riccardo Marinello (Real estate law, Frankfurt), Partner Simon Weppner (tax law, Dusseldorf) and Senior Associate Sarah Heufelder (tax law, Munich).