CA Immo sells residential building NEO LIVING to BMO Real Estate Partners Germany
Munich, October 12 2020 CA Immo has sold NEO LIVING in the Baumkirchen Mitte quarter to BMO Real Estate Partners Germany. The total usable space of the residential building, which was completed in September 2020, is around 5,200 m².
Christof Altendorfer, Managing Director of CA Immo Deutschland GmbH and Head of Investment Germany: “The sale of NEO LIVING represents the successful conclusion of this project develop-ment in the Baumkirchen Mitte quarter and is in line with our strategic focus on office properties”.
With this purchase, BMO Real Estate Partners Germany is further expanding the portfolio of the special real estate AIF “Best Value Wohnen II”, which was launched in October 2019. Like its pre-decessor, the fund concentrates on properties with residential and mixed-use concepts as a sustaina-ble investment product. “We are very pleased to have secured a high-quality property in the Munich metropolis for our real estate special fund with NEO LIVING. As a final building block of the Baumkirchen Mitte quarter, the property is impressive with its architecture, well thought-out floor plans, common areas such as generous lobby areas on the ground floor and a green and accessible roof terrace with a view of the Alps. In addition, the property has very good connections to public transport,” explains Iris Schöberl, Managing Director Germany and Head of Institutional Clients at BMO Real Estate Partners Germany.
The NEO LIVING is part of the NEO building ensemble developed by CA Immo, which includes a hotel and office tower in addition to the residential area. Completed in September 2020, the residen-tial area comprises 50 high-quality rental apartments. The building also has three commercial units on the first floor.
The architectural design for the avant-garde ensemble was created by the renowned architectural firm UNStudio (Amsterdam). With its 60-metre-high tower, it forms the urban development prelude to the Baumkirchen Mitte quarter in Munich, developed by CA Immo.
The office and hotel tower is also nearing completion. The first six storeys of the tower were handed over to the leaseholder Tristar in mid-August, who will operate a 143-room Hampton by Hilton hotel here. On the upper floors of the tower, NEO offers modern and flexible office space with around 8,900 m² of floor space.
Facts & Figures NEO LIVING
|Location:||Hermann-Weinhauser-Straße 61-67, 81673 Munich (district Berg am Laim)|
|Usage:||50 rental flats plus 3 commercial units with approx. 350 m² floor space|
|Storeys:||ground floor plus 5 upper floors and roof terrace, 2 basements|
|Gross floor area:||approx. 5,200 m²|
|Car parking spaces||58 parking spaces|
|Start of construction:||2017|
Images of the NEO can be found in the image archive in the Press section at www.caimmo.com with the keyword “NEO” or downloaded from this link.