KGAL and BSH have signed a significant long-term green lease for the modern "Aviva" office complex ahead of schedule. The agreement covers approximately 60,000 m² of gross floor space, representing Munich's largest single letting in over five years.
The property, built in 2003 and located in Neuperlach with excellent public transport links, has been BSH's headquarters since completion. Under the new agreement, BSH will consolidate additional divisions at the Carl-Wery-Strasse site while undertaking a comprehensive campus transformation to include customer experience spaces, product exhibitions, and training facilities.
"With the new letting, we are securing a sustainable use and thus also the long-term profitability of the property,"said Dr Christian Nieraad, Head of Transaction Management Real Estate at KGAL.
"We are creating a future-oriented campus that will inspire customers and consumers, act as a flagship and source of inspiration for our brands, products and services, promote innovation and quality awareness, create flexible usage options as a workplace of the future and thus strengthen us as Team BSH. I am very pleased that we are actively shaping the future with this location," added Dr Matthias Metz, CEO and Chairman of the BSH Management Board.
Kiwoom Asset Management, the Korean owner of Aviva, entrusted KGAL with the negotiations due to its real estate expertise and market knowledge. KGAL previously managed the property through one of its real estate funds before selling it to Kiwoom in 2017 while maintaining a minority stake.
- Dr Christian Nieraad, Head of Transaction Management Real Estate, KGAL
- Dr Matthias Metz, CEO and Chairman, BSH Management Board
- Ralf Nattke, KGAL
- Thorsten Lücke, CFO, BSH
- KGAL Investment Management (Asset Manager)
- BSH Hausgeräte GmbH (Tenant)
- Kiwoom Asset Management (Property Owner)
Image source: BSH Hausgeräte GmbH
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