- Property with around 4,300 square meters of total floor area in a central location
- Purchaser is BNP REIM
Munich, October 16, 2019: ISARIA Wohnbau AG has sold the Munich office building H.TRIUM Office to BNP Paribas REIM. The two parties have agreed not to disclose the price the property was purchased for. Located centrally in the Munich district of Westend, the property encompasses a total floor area of around 4,300 square meters. Construction was completed in July of 2019. The office building developed by ISARIA is expected to receive BREEAM certification by 2020.
“In Munich’s highly competitive office space market, Westend is one of the city’s most up-and-coming districts. With the sale of H.TRIUM Office in this traditional district, we have successfully concluded a development project that is not only a perfect fit in the existing micro location, but that also boasts enormous utility potential thanks to its prime location,” Sven Graven, head of transactions at ISARIA Wohnbau AG, said about the sale.
The H.TRIUM Office is located in the popular Westend district, which is characterized by a growing office, retail, and residential infrastructure, as well as excellent transport connections. This property is part of the major H.TRIUM development project, which also includes residential real estate that ISARIA has sold to BayernHeim GmbH, as reported in July 2019. Jones Lang LaSalle (JLL) consulted the seller on both of these transactions.
ISARIA Wohnbau AG is one of the leading project developers for residential construction in Munich. The range of projects it has completed includes multi-story apartment blocks, district developments and the regeneration of buildings previously used for commercial purposes. ISARIA Wohnbau AG, with its 90-some employees, can now offer residential properties to meet the requirements of a wide range of target groups. The company has 20 years of experience along the entire project development value chain, including proven skills in obtaining construction rights. Based on its strong market position in the Munich urban area, ISARIA Wohnbau AG has successively expanded its activities in recent years to new regions with projects in the greater Munich area as well as in Hamburg, Stuttgart and Frankfurt am Main. The company's project pipeline has a current planned sales volume of more than EUR 2.9 billion.
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