German fund manager Real IS has acquired a 9,000 m2 office building in Munich for an undisclosed sum. The property on Denninger Strasse is the corporate headquarters of specialist door maker Schörghuber.

Located in Arabellapark, an estate largely developed by the Schörghuber group of companies, the building is let on a long-term lease to Schörghuber.

Real IS has earmarked the asset for a new Bayernfonds closed-end investment vehicle that will focus on Germany.

Real IS Group has created over 100 fund products with a total investment volume of more than EUR 8 bn. The firm, which owned by the German Savings Bank Finance Group, serves as BayernLB's asset management and investment fund service provider for real estate.