Union Investment acquires “Panda” office building in Munich’s Werksviertel district
The “Panda” office building in Munich’s Werksviertel district has officially been transferred to Union Investment’s portfolio, following its completion. The acquisition, originally agreed upon in 2021 under a forward funding arrangement, was made jointly for the special real estate fund UII German Prime Select and UII MSI ges. InvKG, the latter managed by Union Investment on behalf of Bayerische Versorgungskammer. The project developer and seller was PANDION AG.
The 45,000 sqm office complex is fully leased on a 15-year contract to the Bundesanstalt für Immobilienaufgaben for use by the German Patent and Trade Mark Office, which relocated 1,500 employees to the building earlier this year.
“Panda is an attractive new addition to our portfolio. Munich topped the German office market in 2024, with take-up exceeding 600,000 sqm, ahead of Berlin. In the Werksviertel district, vacancies stand at just three percent, with prime rents surpassing EUR 40 per sqm. This area is the most dynamic submarket in Munich,” said Alejandro Obermeyer, Head of Investment Management DACH at Union Investment.
Located on the southern edge of the Werksviertel, the former Zündapp production site has been transformed into a modern business hub. The striking architectural design and high-quality office spaces make it a prestigious addition to the area. The location also offers excellent transport connections, with Munich Ostbahnhof—Bavaria’s third-largest railway station—just steps away, alongside multiple underground, S-Bahn, and bus links.
With its prime location and strong leasing fundamentals, “Panda” further strengthens Union Investment’s position in Munich’s thriving office market.
