POELLATH advises Union Investment on sale of CityQuartier FÜNF HÖFE in Munich
Union Investment has sold the CityQuartier FÜNF HÖFE property in Munich. The property had been part of the open-ended real estate fund UniImmo: Europa since 2003. The off-market transaction is one of the largest single-asset transactions in Germany so far this year. Even after the closing, Union Investment will continue to manage FÜNF HÖFE as asset manager.
The CityQuartier is a modern shopping centre in the heart of Munich's old town on Theatinerstraße and comprises around 26,700 sqm of office and practice space, approximately 14,000 sqm of retail space and 2,500 sqm of restaurant space. FÜNF HÖFE also includes the Kunsthalle München art gallery and several residential units, each with 3,200 sqm.
POELLATH advised Union Investment on all tax matters within the context of the sale with the following Berlin team:
- Sören Reckwardt (associated partner, lead, tax)
- Dr. Hardy Fischer (partner, tax)
Timo Kopmann handled the sale for Union Investment’s internal tax department.
