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Munich Developer Enters Alte Akademie Race With Reported €195 Million Bid

His lawyer threatens to sue over a sale process he calls improper.

Overview

  • Attorney Aribert Wolf confirms he represents an additional bidder for the Alte Akademie and says his client tabled an offer of about €195 million.
  • Heinz Hermann Thiele’s family foundation and Hammer AG had already submitted an offer for the landmark property before the new bid surfaced.
  • Wolf says his client will file suit if the building is awarded to Thiele/Hammer without what he describes as proper consideration and a public tender.
  • Bavaria’s real-estate agency Imby rejects the allegations and says the disposal is being conducted in line with legal requirements, declining further comment on the ongoing process.
  • tz.de reports the bidder is developer Erich Schwaiger, who is also reported to have bought the Sport-Schuster-Haus, previously acquired the Kaut-Bullinger-Haus, and is said to be negotiating to purchase the Tietz-Haus for €127.5 million.