US asset management giant Blackstone has joined forces with Quincap Investment Partners to acquire the Arabella Bogen mixed-use complex in Munich from landlord Jargonnant Partners.
Although financial details were not disclosed, German publication Thomas Daily put the deal value at €170 mln.
The property provides around 44,000 m2 of space and is located near the Arabellapark metro station. It is managed by Officefirst, Blackstone's exclusive asset management platform for offices in Germany.
Blackstone currently owns around 1.8 million m2 of commercial real estate in Berlin, Munich, Frankfurt, Hamburg and Stuttgart.
Blackstone and Quincap were advised by Hengeler Mueller, CBRE and PricewaterhouseCoopers.