Vonovia Brings 300 New Apartments to Munich-Obersendling
- “Gmunder Höfe” development project being built next to former Siemens grounds
- New construction likely to be completed by 2023
Munich, June 17, 2020 – Vonovia is expanding its portfolio in Munich and has acquired the first construction phase of the “Gmunder Höfe” project. This means that the residential real estate company will create 322 new apartments for tenants in Munich. The seller of the first construction phase is a joint venture of real estate developers Rock Capital Group, Baywobau and ubm development. The future “Gmunder Höfe” district will be composed of three construction phases with a total of 450 residential units as well as two new day care centers and a shopping area.
“We always keep an eye out for interesting opportunities to expand our portfolio in the Bavarian capital. This project will allow us to continue growing in our most important Bavarian location. We look forward to offering a great mix of new rental apartments in Munich,” says Frederic Neumann, Managing Director responsible for southern Germany at Vonovia.
The ambitious and diverse architecture is giving rise to a building complex with a varying height of between five and seven stories. The mixed offer of apartments with one to five bedrooms and between 34 and 115 square meters will cater to many groups. In addition, the building has an underground garage with 358 parking spaces, most of which will be equipped for electromobility.
“An entirely new neighborhood with its own unique flair and high quality of living is being built here. The high number of apartments with four or more rooms in particular caters to the high demand in this area. Additionally, we will offer our new tenants a broad range of services,” says Carsten Baurigk, Regional Area Manager and authorized representative responsible for Vonovia’s portfolio in Bavaria.
The new apartments are located directly next to the former Siemens grounds in Obersendling, which is currently being turned into a livable neighborhood through the redevelopment of all existing buildings and the reinforcement of brownfields.
Completion is expected in 2023.