Norton Rose Fulbright advises Kriton on acquisition of office building complex near Munich

Global business law firm Norton Rose Fulbright advised Kriton Immobilien GmbH on the acquisition of an office building in Oberpfaffenhofen near Munich, Germany. The building was acquired for Litos Immobilien AG. The seller is the Vienna-based Serone Group. The parties have agreed not to disclose the purchase price.

The multi-tenant building "Munich SouthWest" in Gilching/Oberpfaffenhofen consists of two four-storey buildings in the shape of a double H. It was built in 2011 and has about 12,600 square metres of space, 80 percent of which is already let. It is located in South-East Germany, in the district of Starnberg/Upper Bavaria, in the Asto Park in Gilching near the Air-Tech Campus Oberpfaffenhofen, an aerospace campus.

Kriton Immobilien GmbH (Kriton) is an investment and asset manager based in Munich. The company focuses on the Core Plus and Value Add risk classes in the German market. Its clientele includes institutional investors and high net worth individuals.

Litos Immobilien AG, based in Pöcking, was founded in 2007. The assets under management amount to around 300 million euros.

Serone International Limited (Serone Group) is a private holding company founded by a wealthy European family that has been investing in real estate in Europe and the United States since 2008.

The Norton Rose Fulbright team advising Kriton was led by Munich partner Dr Maren Stölting, Head of Real Estate, Germany and Co-Head of Real Estate, EMEA (Lead, Real Estate). Counsel Prof Dr Claus Pegatzky (Frankfurt) and Dr Britta Jilge (Munich) as well as associates Tankred Freiberger and Matthias Kemnitzer (both Munich) (all Real Estate) also advised.

Kriton was also advised by CBRE and technically accompanied by Witte Projektmanagement. The seller was legally advised by the law firm Weiss Walter Fischer-Zernin, led by partner Dr Enno Engbers.