One of the most prominent commercial properties in downtown Munich has apparently found a buyer.
According to a report in the Süddeutsche Zeitung (SZ), the entrepreneur Erich Schwaiger has acquired the Oberpollinger house at Neuhauser Straße 18 from the insolvency assets of the Signa Group. The tenant is the Thai retail group Central Group, which operates the Oberpollinger luxury department store, which is part of KaDeWe GmbH. Various local Munich media had previously reported on the impending sale of the property.
The purchase price was reportedly 380 million euros, the SZ reported on Monday, citing unnamed sources. Schwaiger had already acquired several commercial properties in the center of Munich in the past few months, including the headquarters of the men’s outfitter Hirmer.