PAMERA Real Estate Partners, the real estate multi-family office and its joint venture parter E.T. MYER Immobilien, have sold a development site of almost 2,800 m² in Landshuter Allee, Munich to SIGNA Urban Living, a subsidiary of the SIGNA Group. The parties have agreed to keep the purchase price confidential.
PAMERA and E.T. MYER acquired the property in the Nymphenburg district as a joint venture in 2015. The site includes around 2,300 m² of buildings. Working with the Munich office of HPP Architekten, a planning consent was obtained to expand this with the development of a total of 7,500 m².
The outline planning consent was granted at the date of sale, allowing the construction of a new building and the revitalisation of the existing property. The planning permission allows the development to be used as a hotel, a guesthouse or student accommodation with up to 330 student and/or business apartments.
