Union Investment Real Estate Sells 21,332 SqM Munich Office Asset to CONREN Land for Above-Valuation Price

Union Investment Real Estate has sold its office property at Prinzregentenplatz 7–9 in Munich's Bogenhausen district to a company managed by CONREN Land, the firm announced April 20, 2026. The transaction involves 21,332 square meters of lettable space and marks a strategic disposition from the UniImmo: Deutschland open-ended property fund, with the undisclosed sale price exceeding the most recent expert valuation.

The transfer of rights and obligations is expected to take place at the end of June 2026. The parties have agreed not to disclose the sale price.

Transaction Rationale and Portfolio Strategy

Union Investment cited two primary reasons for the disposition: portfolio rejuvenation and a reduction of the fund's relatively high weighting in the Munich metropolitan region. The UniImmo: Deutschland fund acquired the Bogenhausen property in 2011, giving it a holding period of approximately 15 years. According to Union Investment, the building generated solid cash flow over that period.

With the disposition complete, Union Investment's fund management team intends to redeploy capital into new investments. The firm's stated shopping list includes office properties in European gateway cities such as Paris and London, as well as German office markets. UniImmo: Deutschland's liquidity ratio currently stands at approximately 20 percent, and Union Investment described the current environment as a nascent new market cycle.

Property Details: From Single-Tenant to Full Occupancy

The building complex, located at Prinzregentenplatz 7–9, underwent a complete refurbishment in 2011 and 2012 and holds DGNB Silver certification. Originally occupied by a single tenant, GSK, the property was subsequently converted into a multi-tenant asset. New tenants include Finn GmbH on the second floor and the Bavarian State Real Estate on the entire first floor. The conversion achieved full occupancy by April 2026, which Union Investment said set the stage for a successful sale despite a challenging market environment.

Advisors and Deal Structure

Union Investment was advised on the transaction by property services provider Newmark, as well as by law firms Hogan Lovells and Pöllath + Partner. The buyer is a company managed by CONREN Land. No financing details were disclosed.

Sources

Union Investment Real Estate – Press Release, April 20, 2026