Hamburg/ Munich, September 14, 2021. The nationwide real estate company Becken is establishing an equal joint venture with HanseMerkur Grundvermögen AG (HMG) for its Munich project development FABRIK. Becken is responsible for operational project development as well as letting and marketing. HMG is financing the project via the financing fund II and the investment fund I (Luxembourg RAIF). Deutsche Pfandbriefbank AG is acting as senior lender. The multi-tenant office building is located at Steinerstrasse 11/corner of Tölzer Strasse 5 in the Obersendling district of Munich. Becken is building 20,000 square meters of rental space with variable usage units ranging in size from 400 to 1,100 square meters on the approximately 5,200 square meter site.

The two basement levels house an underground parking garage with 184 parking spaces and charging stations for electric and hybrid vehicles. The building also has a bicycle elevator and its own bicycle cellar with changing rooms and showers.

Dominik Tenhumberg, Managing Director of Becken Development GmbH, says: "The former industrial area of Sendling has developed into an urban district over the last few decades. In this up-and-coming district of Munich, which is close to the city, the contemporary new architecture and the establishment of new companies alongside the historic commercial units underline the positive transformation of the district. We are delighted to be able to implement the FABRIK project development together with HMG as a partner." Tenhumberg continues: "Completion of the project, which is designed as a trader development, is scheduled for the end of 2023. The building permit was recently granted."

Malte Andes, CEO of HanseMerkur Grundvermögen AG, adds: "Becken has convinced us with a solid and future-oriented project concept. It meets our high quality requirements in terms of location, sustainability and lettability. That's why we got involved as a financing partner at this early stage of the project. With our financing funds, we are one of the few providers that invest in project developments even before planning permission is granted."

Thomas Köntgen, Deputy Chairman of the Management Board and responsible for commercial real estate financing and public investment financing at pbb, says: "We are delighted to support this joint venture between successful project developers and an experienced investor with financing. The very contemporary and ESG-compliant new property will further strengthen this up-and-coming new office location."

The generously designed office spaces with varying room depths allow future users to divide up the space individually and according to their needs. The spaces also meet future-proof design criteria for digital infrastructure solutions, energy optimization and sustainability. Becken is aiming for gold certification from the German Sustainable Building Council (DGNB) and is implementing the project according to the cradle-to-cradle principle. The high internet connectivity of the future office complex will also be documented by a Wired Score certificate.