Hamburg / Munich, 23.05.2023 - Becken, specialist for project development, revitalization, asset and investment management of commercial and residential real estate, and HanseMerkur Grundvermögen AG (HMG) have celebrated the completion of the shell of their Munich "Fabrik Office" with the symbolic hoisting of the topping-out wreath. The joint venture between Becken and HMG is building the multi-tenant office property with a total of around 21,000 square meters of rental space in Munich's southern Obersendling district by the first quarter of 2024. The design by OLIV Architekten sets an urban accent on the corner of Steinerstrasse and Tölzer Strasse.

Becken is responsible for the operational project development as well as the letting and marketing of the "Fabrik Office". HanseMerkur Grundvermögen AG is participating in the financing of the project via the HMG Finanzierungsfonds II (mezzanine loan) and the HMG Beteiligungsfonds I. The debt financing of the project is provided by pbb Deutsche Pfandbriefbank.

In his speech at the topping-out ceremony, Clemens Baumgärtner, Head of Labor and Economic Affairs for the City of Munich, said: "The Fabrik Office will provide our beautiful city of Munich with attractive commercial space that innovative tech companies urgently need. Once again, Munich is growing into the leading tech location in Germany." Joachim Schmidt-Mertens, Managing Director of Becken Development GmbH, says: "The sustainability of the building plays an important role not only for Becken and HanseMerkur Grundvermögen, but also for the future users of the commercial space. The Fabrik Office will be built using the cradle-to-cradle construction method." Malte Andes, Deputy Chairman of the Management Board of HanseMerkur Grundvermögen, adds: "The sustainable new building meets our high quality requirements with regard to the location in an up-and-coming district of Munich and the rentability of the flexible and ultra-modern space. The project therefore fits perfectly into our financing portfolio."

A third of the space has already been let to NanoTemper Technologies GmbH, the market leader for biophysical analysis equipment and software. Olaf Drossert, Managing Director of Becken Estates GmbH, says: "We are currently in talks with other potential tenants. Our prospective tenants are particularly impressed by the communal rooftop terraces with a high quality of stay and views of the Alps and the city, as well as the modern building standards with a focus on energy optimization, sustainability and digitalization."

The seven-storey office building includes a two-storey underground garage with 184 parking spaces. The investment volume is estimated at 145 million euros. DGNB certification and WiredScore Gold certification are being sought for the "Fabrik Office". The general contractor is Leonhard Weiss GmbH.