BMO Real Estate Partners Germany acquires "PACE" in Munich-Pasing

taketonews

The Munich-based real estate company BMO Real Estate Partners Germany has acquired the residential and commercial building PACE – Pasing Central for a special fund. The property is located at Bäckerstraße 1-3 in Munich-Pasing and offers space for retail and gastronomy (over 3,440 m²), living (approx. 3,310 m²) as well as for offices and practices (over 960 m²) on a total rental area of ​​over 7,700 m² ). In the immediate vicinity of the ICE and S-Bahn train station, the Pasing Arkaden shopping center and not far from the Pasinger Marienplatz and Viktualienmarkt, the PACE was recently extensively restructured. This includes not only the extensive renovation of the existing building, but also a new building, which will be completed by the end of the first quarter of 2022. The seller of the building complex is a GEG project company. It was agreed not to disclose the purchase price.

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“The PACE is characterized by an excellent location in the dynamically growing district of Pasing. The quarter that has been created here offers both urban quality of life and very good connections to Munich city center and the surrounding area, which will be improved by the medium-term planned extension of the U-Bahn line 5 will improve again,” says Thomas Hübner, Head of Investment at BMO Real Estate Partners Germany. “Due to its location and its versatile mixed use, the property offers high potential for long-term value creation.”


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