McDermott advises ABG Real Estate Group and HanseMerkur on the acquisition of the “Qubes” office complex in Munich

McDermott Will & Schulte has advised ABG Real Estate Group and HanseMerkur Grundvermögen on the acquisition of the “Qubes” office complex and the structuring of the investment fund for the consortium of investors. The seller is a project company currently undergoing self-administered insolvency proceedings.

Completed in 2023, the “Qubes” complex is part of the Technology Campus Munich and comprises around 25,000 sqm of leasable space. The office property is fully leased to IT@M, the City of Munich’s information and telecommunications service center, with a weighted average lease term (WALT) of 30 years.

ABG Real Estate Group is a real estate developer and investor with five locations across Germany. The company plans, develops, and manages both commercial properties and residential properties as well as urban neighborhoods. Its assets under management currently total approx. €4 billion. Completed projects include the Living Isar urban district in Munich, the Deutschlandhaus in Hamburg, and the VoltAir in Berlin.

HanseMerkur Grundvermögen AG (HMG) is the real estate investment and asset manager of the HanseMerkur Insurance Group. It establishes investment vehicles for institutional investors, focusing on modern, sustainable residential and office properties in Germany’s high-growth regions. HanseMerkur Grundvermögen currently manages approximately €7 billion in real estate assets.

The McDermott team was led by partner Frank Müller and included partners Olena Tokman, Florian Schiefer, Christoph Coenen and Carina Kant, counsel Marcus Fischer, Nicholas Kubesch and Antje Weiss as well as associates Tatjana Kuhlen, Benedikt Bräkling, Tjark Pogoda and Carolin Schumacher.