The colour “white” on buildings not only appears bright and friendly, but also enables special architectural effects through the play of light and shadow. This was also the basic idea behind the redesign of the now so-called “White Quarter” in the Munich district of Haidhausen. The former Siemens campus on St.-Martin-Strasse is to become a place with a future. Deka Immobilien is counting on this and has acquired part of the White Quarter for its portfolio. This article is based on the unique List of the 400 largest German real estate investors in Germany.
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Office space in the former Siemens campus
The deal relates specifically to houses 1 and 2 in the White Quarter. The office building House 1 comprises a rental area of 22,500 square meters. It will enrich the portfolio of the open-ended Deka-Immobilienfonds Westinvest Immovalue. This fund is aimed at institutional investors. House 2 offers 7,640 square metres of office space. The purchase was made here for the Deka special fund Domus-Deutschland-Fonds Nummer 2. Both properties are almost fully let. The largest single tenant is the Free State of Bavaria with a rental area of around 9,100 square metres. The other tenants are companies with good to very good credit ratings. The two properties were sold by the companies Infrared and Allgemeine Südboden. Both companies have been redeveloping the former Siemens campus since 2018. The White Quarter offers a total of around 61,000 square meters of office space.
Deka Immobilien is responsible for property investments in the Deka Group, one of the largest investment companies in Germany. The Deka Group in turn belongs to DekaBank, the securities house of the savings banks organisation. Deka Immobilien manages around 530 properties in 27 countries on 5 continents. The assets under management reach around 44 billion euros.
Source: Immobilien Zeitung Picture source: Unsplash