PATRIZIA buys plot for €300 million Munich project (DE)

PATRIZIA Immobilien AG has acquired an additional plot in the Obersendling district of Munich at the former Siemens location. The area covering around 29,000 m² on Hofmannstrasse previously belonged to RG Real Grundbesitz GmbH from Grünwald.

With this new acquisition, PATRIZIA now has a total development area of more than 90,000 me² at the Hofmannstrasse location. The area was previously used for commercial purposes but in future it is predominantly apartments that will be built there. “In developing new residential districts, we want to contribute to creating new, high-quality housing in Munich,” explains Jürgen Kolper, Head of Real Estate Development at PATRIZIA Deutschland GmbH. PATRIZIA’s current investment volume in Obersendling, Munich, amounts to more than €300 million.

With the current purchase of the plot at Hofmannstrasse 69, PATRIZIA has expanded its development volume in Munich to an area of over 120,000 m². Throughout Germany, PATRIZIA is currently implementing project developments with a volume of €1.4 billion and more than 3,000 apartments in Munich, Berlin, Hamburg, Düsseldorf, Cologne, Frankfurt am Main and Augsburg.


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