pbb Deutsche Pfandbriefbank has provided a €105m financing to WÖHR + BAUER GmbH, for the purchase of a plot and construction of an office and retail building in Munich's 'Werksviertel'. WÖHR + BAUER will realise an innovative office and retail property comprising a 17-floor, 65-metre tower with a connected six-floor building. The landmark building was designed by renowned architects Nieto Sobejano Arquitectos, and is set to obtain LEED Green Building certification. The development will have a total lettable area of 32,000 m².
Two lower floors will be used for shops and restaurants, whilst the upper floors will feature modern and flexible office space with attractive roof terraces. Completion is scheduled for 2021. Development of the 'Werksviertel' quarter – measuring some 40 hectares – commenced in 2012. There are also plans to build a new concert hall, c.1,150 flats and to create 7,000 jobs in this area in the near future.
Gerhard Meitinger, Head of Real Estate Finance Germany at pbb, commented: "We are delighted that with this financing, we were able to make a contribution to the development of a young, urban city quarter. The joint project – by the Maltz family of owners and developers WÖHR + BAUER – will enrich the new quarter with its innovative architecture."