KGAL has acquired the high-quality "Streitfeld Lofts" office complex with 8,400 square metres of rental space and 54 underground parking spaces for one of its institutional special funds. The property, which was completed in 2020, is located in the up-and-coming Berg am Laim district in eastern Munich. It is rated "Excellent" by BREEAM. The seller of the property is one of the BlackRock Real Asset Funds.
Munich is considered one of the most attractive business locations in the EU. A wide range of industries has settled in the Bavarian
capital, including seven DAX subsidiaries and a large number of start-ups. The number of employees has grown very dynamically over the past five years at almost ten percent, and the demand for office space is correspondingly high.
The "Streitfeld Lofts" office ensemble is located in the Munich Art District of Berg am Laim – a
lively and creative centre with a large number of hotels as well as studios, museums and
other cultural institutions. The building complex consists of a completely renovated existing building built in 1967 and a new extension.
The tenants are mainly from the IT and consulting industry. They appreciate the spacious, bright loft offices and roof terraces of the two parts of the building. All rooms are equipped with high-quality materials and furnishings.
In terms of ESG, the "Streitfeld Lofts" score points with heating supply from district heating (which is generated by renewable energy), 100 percent LED lighting, e-charging stations, good public transport connections and plenty of daylight in the work areas.
"The "Streitfeld Lofts" are KGAL's fourth office purchase in six months. In the
current market environment, we see good opportunities to secure high-quality properties with a positive long-term outlook for our investors," explains Christian Schlüter, Portfolio Manager at KGAL.
KGAL is planning further acquisitions in the commercial and residential sector in the coming months.
