Hamburg, 10 April 2018: At the end of December 2017, the German project developer and asset manager Becken acquired an approx. 9,000 square metre building site on Munich's Hochstrasse in the Au-Haidhausen district. The seller is the real estate company Bayerische Hausbau. The parties have agreed not to disclose the purchase price.

Becken plans to develop a residential quarter with up to 200 condominiums on the site. High-quality two to four-room apartments ranging in size from 45 to over 200 square metres are to be created. The new building will supplement the existing residential development on the elevated road and provide urgently needed living space. "In addition to our project development on Romanstrasse, this project will add a further 14,000 square metres of residential space to the residential market in the Bavarian state capital over the next three years," explains Stefan Spilker, Managing Director of Becken Holding GmbH. "In doing so, we plan to retain parts of the project development in our portfolio in the long term".

Construction is scheduled to start in 2019. The property is located approx. 900 meters from the underground station Kolumbusplatz and is thus one of the most sought-after areas of the Bavarian capital close to the city center. Munich Central Station can be reached in only 15 minutes by public transport.