(MUNICH) - Global real estate firm, Hines, announces a new lease to Bosch Building Technologies at "aer", in Munich's Neuperlach district, to commence in 2023. “aer”, owned by Hines European Value Fund 2 (HEVF 2), is expected to serve as the new headquarters for the Bosch division, which is currently based in Grasbrunn near Munich. The lease represents the largest office deal year to date in Munich's real estate market. In addition, approximately 50% of the office building is already pre-let well before completion.
"aer" aims to be one of the most sustainable properties in Munich. After completion, it is expected to be climate-neutral, saving on indirect energy consumption, known as gray energy. All additions will be timber or timber-hybrid structures, which will have a positive impact on the building's energy balance and people's well-being. The combination of this type of refurbishment and a new timber construction is understood to be unique in Germany.
Christian Meister, managing director at Hines Germany and asset/development manager for the project, says: "This long-term lease marks an important milestone for the “aer” and proves that quality and design combined with outstanding infrastructural connectivity and a sound sustainability concept create an attractive environment for companies. With Bosch Building Technologies, we have been able to attract a successful industry leader as a tenant who shares our ideals and goals in terms of sustainability."
Bosch Building Technologies will implement a modern and flexible working environment at "aer". The Bosch Group division is a leading international supplier of products and systems in the field of security and communication. In selected countries, Bosch also offers solutions and services for building security, energy efficiency and building automation. Bosch Building Technologies will contribute its extensive expertise in building technology to the construction of the digital "Office of the Future." This will enable tenants and landlords to create valuable synergies before they move in.
CEO of Bosch Building Technologies, Thomas Quante, adds: "Bosch has set itself ambitious goals in environmental protection. We have been working for many years to reduce our ecological footprint. Since 2020, Bosch Group has been the first global industrial company with more than 400 locations worldwide to be climate neutral. The choice of “aer” as our new headquarters perfectly suits our values and is thus a further consistent commitment to our sustainability efforts. In line with our mission 'Building solutions for a better life', “aer” also offers us the opportunity to create a future-oriented, attractive working environment for our employees - with plenty of space for communication and exchange."
End-of-trip facilities such as showers, lockers and a bicycle workshop, as well as the planned daycare center, co-working spaces, yoga areas, roof terraces with a view of the Alps, and healthy gastronomy and bar concepts, will complete "aer" for all tenants and set new standards.
The "aer" is comprised of two office buildings at Fritz-Schäffer-Strasse 9 with a total area of 87,000 square meters. Following its acquisition in February 2020, by HEVF 2, Hines has initiated a profound transformation process of the site. The existing property in the western area, which will be home to Bosch Building Technologies, is being completely renovated and transformed. The plan is to create a multi-tenant office building and achieve CO2 neutrality as well as a DGNB Gold rating and WiredScore Platinum certification. These objectives underscore Hines’ efforts to set new standards in the areas of sustainability and digitalization.
In combination with the plans for the existing building to the east, a campus with attractive outdoor areas accessible to everyone will be created. For the other part of the property, a reorganization is envisaged, including the creation of affordable housing. Currently, Hines is facilitating a culinary, cultural and sustainable interim concept at the site with "shaere." The Community Kitchen produces up to 10,000 meals a day from saved food.
Hines was advised on the lease by GSK Stockmann and CBRE.
For more information on "aer," visit www.aer-muenchen.de. In addition, all interested parties can follow the project's own Instagram account (@aer_neuperlach).
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management valued at approximately $83.6 billion¹. In addition, Hines provides third-party property-level services to more than 367 properties totaling 138.3 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totalling over 492 million square feet. The firm has more than 171 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world.
¹Includes both the global Hines organization as well as RIA AUM.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 62 cities in 13 countries. Hines oversees investment assets under management valued at approximately €21.7 billion and provides third-party property-level services totaling 3.9 million square meters in Europe, in Austria, Denmark, Czech Republic, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.
Since the opening of its site in Germany in 1991, Hines has acquired or developed a total of 47 properties with an overall surface area of over 1.8 million m² for Hines or on behalf of external clients, including properties such as Werfthaus and Silberturm in Frankfurt, Zoom and Stadtquartier Südkreuz in Berlin, Hofstatt, Uptown München, OSKAR, Tucherpark, aer and MediaWorks in Munich, the Überseequartier Nord district in Hamburg, the Benrather Karree and Kö-Quartier in Düsseldorf, Friesenquartier in Cologne and the Postquartier, Karlshöhe and Kronprinzbau 1+2 in Stuttgart. Hines currently manages a portfolio of €8.5 billion in assets under management and also provides third-party management services for numerous properties.
Visit www.hines.com for more information.
All data correct as of 30.06.2021
About the Hines European Value Fund 2 (HEVF 2)
HEVF 2 is the second close-ended, Luxembourg-based investment fund in the flagship HEVF Series with the objective to secure and invest in value-add commercial real estate throughout Europe on behalf of an institutional investor group. HEVF 2 was initially launched in December 2019 and has effectively been fully allocated across 14 separate investments across the Residential, Logistics and Office sectors. Execution and crystallization of performance is the focus and currently the fund expects to outperform its target returns.