Union Investment has purchased a 14,000m² office building at Semmelweisstraße 7 in Planegg, near Munich. Completed in 2014, the property is fully let to Morphosys, having recently become the biotech company’s new headquarters. The vendor of the building is LIP Ludger Inholte Projektentwicklungs. The purchase price was not disclosed.
Morphosys specialises in producing antibodies for therapeutic, research and diagnostic use. To accommodate the company’s strong focus on research, a 2,300m² laboratory has been installed in addition to the 10,400m² of office space. The building also offers 1,400m² of storage space plus parking for 283 cars, with 271 of the spaces being in an underground car park.
Union Investment will hold the property in its new special real estate fund UII German M. Targeted at institutional investors, the fund was launched with an initial 22 properties and real estate assets totalling €313m. The office building in Planegg is the first new acquisition for UII GermanM.
