According to reports on the German press, Siemens-Forum in Munich, built by New York architect Richard Meier and located at the Oskar-von-Miller-Ring has changed hands.
For the first time in history investors from South Korea are active on the Munich real estate market. The South Korean National Pension Service (NPS ) together with its partner Hines Real Estate have purchased the Siemens-Forum located at the Oskar-von-Miller-Ring.
Conceived by New York architect Richard Meier and opened in 1999, this office building has been a major part of the Siemens corporate headquarters. Siemens has leased back the object immediately and will remain there until the completion of the new building. The move will take place in three years.
The reported purchase price was €160 million, constituting the largest real estate deal in Munich this year. The transaction was brokered by CBRE.