Capital acquires the ART155 office building in Munich
- Total investment volume of approximately €150 million
- Fully let office building with anchor tenants EdgeConnex, Ecos Office Center, Check24, and Hill-Rom
- BREEAM certified and ESG-ready
Munich/Frankfurt, 20 December 2021 – Capital, ABG Real Estate Group’s investment management entity, has acquired the ART155 building, an existing property at Landsberger Strasse 155/159 in Munich, in cooperation with a small group of occupational pensions schemes. The total investment volume amounts to approximately €150 million. The building was sold by Goldman Sachs Asset Management and DW Real Estate GmbH.
The fully let office building formerly known as “Artemis” is conveniently situated on Landsberger Strasse in the Westend neighbourhood, very close to Munich’s middle ring road (Mittlerer Ring) and the Munich West suburban railway line. With customisable rental spaces from 200-4,600 sqm, totalling around 23,200 sqm spread over five floors above the ground, more than 280 parking spaces on two underground floors, and a direct connection to a high-speed internet node, the ART155 building offers the perfect New Work environment, allowing flexible work in Germany's leading technology hub. Built in 2000 and most recently modernised in 2021, the building features renowned anchor tenants such as EdgeConnex, Ecos Office Center, Check24, and Hill-Rom.
The building has been certified according to the BREEAM standard. In addition, ESG standards have already been implemented in many areas, ensuring compliance with the Paris Climate Agreement until 2041 without any further investment.
Ulrich Höller, Managing Partner at ABG Real Estate Group, stated: “With the acquisition of the ART155 property, Capital has built an asset base worth over €450 million in its first financial year. In doing so, we place the emphasis on properties offering future potential – particularly in terms of sustainability, which continues to grow in importance.”
Capital was supported in executing the transaction by GSK Stockmann (legal advice), Drees & Sommer SE (technical due diligence), ALR Treuhand GmbH (tax advice) sowie Colliers and CBRE (estate agents).