CV Development (“CV Projektentwicklung”) has in a joint venture with the KanAm Grund German Development Fonds real-estate fund managed by the KanAm Grund Group acquired the Da Vinci Campus in Munich. The office complex consisting of two buildings with a total area of around 18,000 square meters is located in the east of Munich between the city center and the Munich Trade Fair Center. The purchase was made via a project company in which both partners own equal shareholdings. The vendor is a Walter Group company. The parties have agreed not to disclose the purchase price.
The location (Klausenburger Strasse 9) has excellent transport links via the A94 freeway and the nearby Berg am Laim city train station. The district, which also contains the Süddeutsche Zeitung newspaper’s high-rise building, is a rapidly growing office and hotel location. A boarding house with more than 800 serviced apartments is currently being built in the immediate vicinity of the Da Vinci Campus. CV Development was significantly involved in this project, one of the largest of its kind in Germany.
“We’re delighted to have acquired another property in such an attractive location,” says Christian Vogrincic, Founder and CEO of CV Projektentwicklung. “Together with our partner, we will identify options for how we can best exploit its potential.” Anatol Obolensky, Head of Acquisition, adds: “Our good network and the smooth collaboration with the KanAm Grund Group were the key to this project’s success.”