German fund manager KGAL said on Thursday that it has acquired the Eisbach Offices complex in Munich-Schwabing from NB Project Development for around EUR 33 mln. The building is earmarked for KGAL's new closed-end real estate fund, Property Class Germany 12, which will be marketed to investors in the third quarter of 2010.
Ares, Coima and MEAG are three investors which have closed multiple acquisitions in the last few weeks.
