ABG Real Estate Group secures exclusive asset management mandate for "Barer Strasse 24" in Munich

•    Repositioning and leasing of the vacant property
•    ABG Real Estate Group brings both construction expertise and asset management competency to the project
•    Potential residential use in addition to future office use under consideration
•    Strategic expansion of the investment and asset management division

Munich, 3 September 2024 – The ABG Real Estate Group has been exclusively appointed by a German institutional investor to reposition and lease the listed building "Barer Strasse 24" in Munich as part of a new asset management mandate. This further expands the company's investment and asset management services for institutional clients. The current volume of assets under management totals approximately €3.4 billion.

Located at Karolinenplatz and near the Pinakothek, the property, constructed in the 1950s and last modernized in 2016, benefits from a unique facade and a prime location characterized by its historic surroundings and excellent public transport connections. The building, most recently used as an office property, offers a total rental space (GFA) of around 6,300 m², spread over 6 floors, including the ground floor, and features 2 rooftop terraces with exceptional views over Munich. Previously used solely by a banking institution, the property is currently vacant. In addition to future office use, the ABG Real Estate Group is also considering repurposing the building for residential use.

Christian Bock, Managing Director of Investment and Asset Management at ABG Real Estate Group, commented: "Few real estate managers, like ABG Real Estate Group, combine extensive construction expertise with institutional asset management competence. In this mandate, we can leverage this strength and continue to strategically expand our investment and asset management division."