Singapore is a hotspot for single and multi family offices. A rather secret Asian single family office now acquired a top-notch building in Munich (Germany).
“Ludwig” office building changing its owner for €350M
The so-called “Ludwig” building is in the heart of Munich, located. in Ludwigstraße 21 and Theresienstraße 4, 6 and 8. The building is just a few minutes away from the English Garden, Hofgarten and Odeonsplatz. Now, the Ludwig building was acquired by the Singapore family office Pacific Eagle for approximately €350M. Former owner of the building was Allianz Real Estate, the property investment division of Germany’s largest insurer. Allianz uses 20% of the space itself, the rest of 27,000sqm office space is mainly inhibited by the Boston Consulting Group. Further tenants are the German unicorn startup Celonis and a law firm. The neo-renaissance building has a historical background was built in 1911 by the Bavrian insurance bank.
Secret Singapore family office as investor, major real estate firms realizing the transaction
There is rarely any information about the Singapore-based Pacific Eagle Asset Management firm. It is probably a single family office, active in real estate, venture capital, and financial markets. The KanAm Grund Group serves as investment and asset manager for Pacific Eagle. CBRE served as a broker.
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