Noerr advises Wertgrund Immobilien on acquisition of residential property in Munich

A Noerr team led by Annette Pospich has advised Wertgrund Immobilien on the acquisition of a residential property in Munich for the Wertgrund Wohnselect D investment fund. The purchase price was €25 million.

The complex comprises two residential and commercial buildings and a rear building, and is located in Jagdstrasse 2/Winthirstrasse 12 in Munich’s Neuhausen-Nymphenburg district.

The ensemble was built in 1958 and has 52 residential units with a total area of around 2,350 square metres, plus 8 commercial units with 680 square metres of rental space. The property also has 52 parking spaces. The buildings, which are partly empty, are to be renovated and have more space added.

At the end of 2021, Wohnselect D had net funds of €413 million, 2,092 residential units and 110 commercial units.

Noerr advised Wertgrund on all issues of real estate law and on tax and regulatory issues with an interdisciplinary team.

Advisors to Wertgrund: Noerr Partnerschaftsgesellschaft mbB

Real Estate Investment Group
Annette Pospich (partner), Dr Antonio Di Mieri (associate, Munich)

Tax
Dr Sebastian Leidel (senior associate, Munich)

Regulatory & Governmental Affairs
Dr Joachim Rung (associate, Munich)