TAG Immobilien AG announced that it has sold an approximately 30,000 m² office building in Munich-Obersendling to Fiduciary Capital GmbH.
The property is located in Gmund Street (corner of Hofmannstrasse) in the southern district of Munich-Obersendling near the Mittlerer Ring. The building has been kept vacant in recent years, in preparation for a conversion. Fiduciary Capital GmbH, which focuses on the Munich Metropolitan Region, is planning to redevelop the entire area. The project is due to be completed by the end of 2014.
The purchase price was not disclosed.
Source: TAG Immobilien