- Around 5,700 m² of residential space and over 600 m² of retail space, divided among 71 apartments and three commercial units
- Completion in fall of 2019
Munich, July 10, 2019: ISARIA Wohnbau AG has sold the first section of the new urban quarter located on Hansastraße, in Munich’s Sendling district. BayernHeim GmbH is the buyer of these properties, which contain around 5,700 square meters of residential space and over 600 square meters of retail space, divided among 71 apartments and three commercial units. The sale also included 49 parking spaces. With BayernHeim GmbH as the owner of this real estate, lower-income groups in particular will have lasting access to inexpensive apartments in Munich’s metropolitan area. BayernHeim GmbH is expected to take over in fall of 2019. JLL supported ISARIA Wohnbau AG in brokering the sale.
“The new urban quarter in Sendling-Westpark is a textbook example of the sustainable living projects we are dedicated to realizing: It is situated in an ideal location with good transport connections and brings together all walks of life with its integrated residential and retail spaces, offices and recreation areas. In addition to young families, highly qualified professionals working for nearby companies like Google and the Fraunhofer Institute have also shown interest in the area,” says Gerhard Wirth, board member at ISARIA Wohnbau AG.
The section sold make up part of a larger urban development project by ISARIA in Sendling-Westpark, between Tübinger Straße and Hansastraße. In total, 28,600 square meters of rental space are being realized. Within the quarter, four buildings consisting mainly of classic single-story apartments, maisonettes and townhouses are being built. The complex will also include retail space, offices and a day-care center.
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 current project pipeline is worth over EUR 2.8 billion.
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