Pacific Eagle purchases “Ludwig” in Munich

Modern office building with a historic facade in a prime location

Frankfurt, 03.09.2019 – Pacific Eagle, a Singapore-based family office, advised by The KanAm Grund Group, has acquired the “Ludwig” building complex at Ludwigstrasse 21, a prestigious address in Munich. The Boston Consulting Group occupies two-thirds of the approximately 27,000 square meters of office space and, together with Allianz (which leases about 19 percent of the property), is the main tenant in the building, an edifice whose facade ranges from neo-classical to Renaissance revival in style and is a characteristic feature of the traditional north-south axis from Odeonsplatz to the Siegestor in the city on the Isar. KanAm Grund Group is acting as an investment and asset manager to Pacific Eagle. The deal was brokered by CBRE.

Ludwigstrasse, which was initiated by King Ludwig I at the beginning of the 19th century as the first grand avenue of the new Munich, is still the site of the Ludwig Maximilian University, the Bavarian State Library (Bayerische Staatsbibliothek) and Bavarian state ministries and, together with the Maximilianstrasse planned at a later date and the Prinzregentenstrasse laid out at the turn of the century, shapes the unique character of the Munich city center as an aspiring international economic and cultural metropolis.

The “Ludwig” encompasses three building units, including Ludwigstrasse 21, Theresienstrasse 4, 6, 8 and Theresienstrasse 10. The individual building components were thoroughly modernized in recent decades, and office spaces are flooded with light and equipped to a very high standard.  The building complex behind the listed stone facade is 100 percent leased. In addition to Boston Consulting and Allianz, other tenants include Celonis, a Munich start-up which has grown to become a global software provider, and a patent attorney firm. Storage areas and parking are also available.

Several subway (U-Bahn) stations can be reached quickly from the “Ludwig”. In addition to branches of the Deutsche Bundesbank, Bayerische Landesbank and the DZ Bank, the Bavarian State Chancellery (Bayerische Staatskanzlei) and Ministry of the Interior (Innenministerium) are also located in the immediate neighborhood. The Hofgarten and Englischer Garten can be reached quickly on foot, and numerous tourist attractions such as the Museumsinsel with the internationally renowned Pinakotheken and Museum Brandhorst are only two blocks away. All the culinary delights and the hotel infrastructure of the historic city center, the Altstadt, and the borough of Maxvorstadt can also be reached with ease in a matter of minutes.

About the KanAm Grund Group
The KanAm Grund Group has handled a transaction volume of over 33 billion US dollars since it was established in October 2000. The owner-managed company focuses on the individual needs of German and international investors, with the geographical emphasis being in Europe and the United States. In order to set it up strategically, the company was reorganized into three business divisions under the umbrella of the KanAm Grund Group: Group KanAm Grund Kapitalverwaltungsgesellschaft (an open-end real estate fund), KanAm Grund Institutional Kapitalverwaltungsgesellschaft (a special real estate fund) and the KanAm Grund REAM (international investment advisory & asset management). Since its strategic repositioning, the KanAm Grund Group, as an international real estate enterprise, provides real estate investment and asset management services to German private investors, institutional investors and international investors alike, irrespective of the investment vehicles involved.