At the end of 2007, CA Immo acquired Germany's Vivico Real Estate GmbH with the clear strategic goal of noticeably and permanently augmenting its presence and project development portfolio in Germany. With this most recent milestone in a large project in Munich, CA Immo subsidiary Vivico underlines their expertise in the development of extensive real estate projects.
Just seven months after the cornerstone was laid for the ATMOS office building in Munich's Arnulfpark, the shell construction has been completed, doing full justice to the nickname of "Munich's Fastest Construction Site". The property encompasses approximately 27,000 m² of office space and will be handed over to its tenants this summer. Besides, the pharmaceuticals group Bristol-Myers Squibb will be setting up its new German headquarters here.
Dr. Bruno Ettenauer, board member and speaker for CA Immo: "The swift realization of this project underlines Vivico's prowess at executing projects. They are a platform for activities in the core market of Germany, and particularly in the project business and in the development of entire neighbourhoods they bring years of experience to the CA Immo Group. Here we're bundling the experience of an established German real estate developer with the profitability and international know-how of CA Immo Group."
CA Immo profits from the contacts and competences of its new subsidiary, which has erected entire city neighbourhoods on former rail yards and currently holds a portfolio totalling around 6.9 million m². The project Arnulfpark currently in development is situated at a central location in Munich, on around 18 hectares of the former container rail terminal, and is conceived of as a multifunctional city neighbourhood with four areas. Altogether 1,000 apartments, offices for 4,500 workers and a 4-star plus hotel are envisioned. Alongside ATMOS, Vivico is responsible for other buildings at the Arnulfpark, as well: back in 2007, the commercial and residential building VELUM was constructed, and plans also foresee the realization of the SKYGARDEN office building with ca. 31,000 m² of floor space.
Source: CA Immo
