Project developer Concrete will invest €100 mln in sustainable real estate in the Munich metropolitan region on behalf of an unnamed Munich family office.
The target is land for project developments and existing properties with potential for value appreciation in good locations in Bavaria, with a focus on Munich.
The focus of the project is on mixed-use, residential and commercial uses with an investment volume of €10 mln or more.
Peter Fritsche, managing director of Concrete, commented: ‘We are very pleased that the market is taking note of our team's achievements and with that great trust from the partner is rewarded. There is exciting momentum in the current market environment to take advantage of extraordinary opportunities. We firmly believe that the market will come back and reward our countercyclical actions.’
Concrete has earned the trust of the investing family with its successful track record, including the successful completion of the Perlach Plaza residential and commercial district in partnership with BHB Group.
The project is considered a prime example of a diverse new building project in the spirit of the 15-minute city. On a total of 50,000 m2 of floor space, it offers space for living, working and shopping as well as lounge areas for relaxation and various gastronomic offerings in the heart of Neuperlach.
Concrete offers a broad risk diversification with its portfolio mix and traditionally relies on cooperation with industry partners or family offices for crisis-proof residential and commercial properties in economically strong locations,
Concrete is currently developing projects in Munich with a volume of around €700 mln or around 65,000 m2 of floor space.