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CA IMMO INVESTING IN MUNICH

Having acquired the 50 percent partnership share of OFB Projektentwicklung in SKYGARDEN, which was recently completed in Munich's Arnulfpark, CA Immo is the sole owner of the office building.

 

The acquired property value amounts to around 63 million Euros.

“By acquiring the OFB shares, we are consolidating our investment on the Munich real estate market, which will continue to be key for us in future, and at the same time enhancing the asset portfolio of CA Immo with another landmark property”, says Dr. Bruno Ettenauer, Chief Executive Officer of CA Immo, commenting on the acquisition.

The office building, which was completed in August 2011, has total gross floor space of around 34,000 sqm. The project was undertaken in a joint venture between CA Immo and OFB Projektentwicklung. The largest tenant is the management consulting and auditing company PricewaterhouseCoopers, which established its new Munich headquarters across some 17,500 sqm of floor space as soon as the building was ready for occupancy.

The SKYGARDEN structure was conceived and realised as a green building; its most striking feature is the winter garden conservatory spanning several levels. The gardens serve to improve the climate whilst optimising the building's energy system. Gold LEED certification is at the preparation stage.

Now that the SKYGARDEN is finalised, the Arnulfpark district development has almost been concluded. CA Immo is also working on AMBIGON (an office and commercial complex that includes a medical centre) in the Schlossviertel Nymphenburg area of Munich; retail outlets and the medical centre commenced operations in October of this year. Completion of the entire complex is scheduled for the end of 2011. Other development projects currently in progress in the city include the new Baumkirchen Mitte district, the site surrounding the Freimann repair works and the Eggarten estate.

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About CA Immo
CA Immo was founded in 1987. The company develops and invests in commercial real estate (and in particular offices) in Austria, Germany and Eastern Europe. As of 30 June 2011, the company's total property assets amounted to some € 5.2 bn. CA Immo is listed on the Vienna Stock Exchange, with free float of around 83 % at the present time.

Please address any questions to:
CA Immobilien Anlagen AG
Mag. Susanne Steinböck
Tel.: +43 1532 5907-533
Email: steinboeck@caimmoag.com
www.caimmoag.com

 


Monday, 21. November 2011 11:01