Newmark Group, Inc. completed the sale of a fully leased 21,400‑square‑meter office building at Prinzregentenplatz 7‑9 in Munich on April 23, 2026. The seller was Union Investment and the buyer is a company managed by CONREN Land. The transaction is the largest office sale in Munich in more than three years, underscoring the scale of the deal.
The building sits opposite the Prinzregentenetheater and is occupied by tenants such as GSK GlaxoSmithKline and Immobilien Bayern. Its institutional‑grade specifications and diversified tenant base make it a highly attractive investment for the buyer.
Newmark’s Capital Markets team in Munich acted as advisor to Union Investment. Marcus Lütgering, Country Head Germany, said, “This transaction demonstrates that strong pricing remains achievable for high‑quality office assets in prime urban locations.” Jan Isaakson, Executive Managing Director and Head of Capital Markets Munich, added, “This transaction sends a clear signal to the Munich office investment market. Given its scale, it establishes a key benchmark in an increasingly selective environment.”
Union Investment has been repositioning its portfolio in Munich. Alejandro Obermeyer, Head of Investment Management DACH, explained, “After downsizing our single‑tenant GSK, we converted the property into an attractive multi‑tenant property. With new tenants such as Finn GmbH and the Free State of Bavaria, we were able to achieve full occupancy again and thus create optimal conditions for the sale.” The sales price was not disclosed, and specific details about the buyer’s corporate structure remain private.
The Munich office market in early 2026 remains characterized by stable leasing activity and a strong demand for high‑quality, sustainable, centrally located properties. Prime rents are rising, and this transaction aligns with the trend of institutional investors targeting core assets in prime locations, setting a benchmark for future deals in the city.
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