Munich: ABG celebrates topping-out ceremony at the FRANZ project on Sonnenstraße.

Munich/Frankfurt, May 24, 2023 - After only about 1.5 years of construction, ABG Real Estate Group celebrates today the topping-out ceremony of their project FRANZ in the city center of Munich. The ceremony at Sonnenstraße 20 was attended by approximately 120 prominent guests from the business and social circles of the Bavarian capital. Among the speakers were Ulrich Höller, Managing Partner of ABG Real Estate Group, Clemens Baumgärtner, Economic Affairs Officer of the City of Munich, and Christian Müller, Chairman of the SPD City Council faction. In September 2021, ABG, in a joint venture with pension funds, acquired the existing property known from the cult series "Monaco Franze" in close proximity to the famous Stachus. The construction work began in spring 2022. In the interest of a good CO2 balance, the existing seven-story building from the 1950s was not demolished but gutted and revitalized to the highest environmental and quality standards, complemented by a three-story glass-enclosed new building in the green courtyard. As a result, FRANZ will provide a total of 4,500 square meters of highly flexible space for living and working in the heart of the city. The total investment volume of the project amounts to around 70 million EUR.

Clemens Baumgärtner, Economic Affairs Officer of the City of Munich: "FRANZ symbolizes exactly the apparent contradictions that make Munich as a business location unique: global corporations and traditional medium-sized businesses, urban hustle and bustle and coziness, hospitality and business acumen. It's all about joy of life. And nobody knew that better than Monaco Franze!"

Christian Müller, Chairman of the SPD City Council faction: "We greatly appreciate it when properties, especially in the heart of the city of Munich, not only shine in new splendor but also apply to the underlying construction project. From our perspective, the reuse of essential building components is forward-thinking, as construction and planning increasingly become part of a comprehensive climate and resource protection strategy."

Ulrich Höller, Managing Partner of ABG Real Estate Group: "FRANZ shows what modern urbanity can look like when the needs of people are at the center: Instead of the usual either/or, FRANZ provides space for a creative combination of living and working. It combines the existing with the new, demonstrating how sustainable construction at the highest level can succeed in city centers."

About the project details of FRANZ:

• The project name "Franz" is inspired by the 80s TV cult series "Monaco Franze" The building at Sonnenstraße 20 served as the filming location for Monaco Franze's detective office, making this address widely known throughout Germany.

• The building was constructed in 1953 and was used as a residential and commercial building until 2020, with increasing vacancies. ABG acquired the existing property in September 2021, along with pension funds as joint venture partners, and it was acquired unoccupied and gutted.

• The main building consists of seven floors (including the ground floor) and a basement. Five floors will feature individually customizable spaces with all possibilities for new ways of working, while the upper two floors will have eight light-filled apartments with a unique view over Munich and the Alps. The ground floor will accommodate a high-quality entrance and versatile conference areas. The building features a rooftop terrace on the first floor, as well as numerous balconies, and will have a new, high-quality facade in sandstone-colored Tavertine with a dark contrasting ground floor area facing Sonnenstraße. The previously above-ground parking spaces will be relocated to the basement and equipped with electric charging facilities. Additionally, there will be 22 bicycle parking spaces (including ten with electric charging facilities).

• The main building is complemented by a fully glazed, minimalist new building with floor-to-ceiling windows facing the green courtyard. It will provide bright office spaces of the highest quality on three floors.

• The construction is being overseen by the two Munich-based architectural firms Wolfgang Scherer Architekten and Schemmel Architekten. Construction began in spring 2022, and the completion of the building is expected by the end of 2023. The building will also be certified according to WiredScore and the sustainability standard BREEAM.


Jochen Goetzelmann & Jorge Person
Targa Communications

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