Union Investment and Immobilien Freistaat Bayern sign rental agreement in Munich

Union Investment has signed a long-term rental agreement with Immobilien Freistaat Bayern (IMBY) for 2,721 square metres of office space at Prinzregentenplatz 7–9 in Munich. IMBY, a commercially organised state-owned company, manages real estate assets on behalf of the Free State of Bavaria. The move is scheduled for the third quarter of this year, with the lease set to run for 15 years. The property has been part of the UniImmo: Deutschland open-ended real estate fund since 2011.

The office building is now fully let again. After former single tenant GSK (GlaxoSmithKline) reduced its space in building no. 9, Union Investment reconfigured the building for multi-tenant use. Finn GmbH occupies part of the first floor, and IMBY will now take over the remaining space on the same level. “We’ve transformed the property into an attractive, functional multi-tenant building, and are pleased to welcome IMBY as a key tenant,” said Sven Lintl, Head of Asset Management Germany at Union Investment.

IMBY’s move to Prinzregentenplatz consolidates its current Munich locations—its head office and regional office—into one. The new space significantly reduces the company’s footprint while positioning it as a forward-thinking property service provider for the Free State of Bavaria. The location offers a central address, short distances, and efficient office layouts.

“With this relocation, we’re establishing a modern work environment tailored to efficient, flexible, and networked collaboration,” said Gerhard Reichel, Managing Director of IMBY. “As part of our ‘New Working Worlds’ pilot project, we’re implementing innovative office concepts that support digitalisation and hybrid working, while also fostering in-person collaboration. Our aim is to contribute this experience to the ongoing evolution of the Bavarian government landscape.”

Located in the Bogenhausen district on the eastern side of the Isar, the Prinzregentenplatz office building offers excellent transport connections. Munich city centre is nearby, and the Prinzregentenplatz underground station is just a few metres away.