PANDION buys land from ARA Europe and Allgemeine SÜDBODEN for residential project
March 2022
In the south-east of Munich, PANDION is developing a new residential building with 160 units. For this purpose, we have acquired a plot of around 5,400 m² at the interface of the Munich districts of Haidhausen, Ramersdorf and Obergiesing. The sellers of the site at Germersheimer Straße 5, a former commercial site that is now vacant, are ARA Europe, former real estate platform of InfraRed Capital Partners, and Allgemeine SÜDBODEN. In total, PANDION is planning around 11,500 m² of residential space as well as a daycare centre integrated into the building. Construction is scheduled to start at the end of 2023 and to be completed in 2026. A preliminary building permit has already been issued.
"Our new building in an established residential location around Kaiserslauterner Platz will provide another exciting offer and underline the increasing attractiveness of the neighborhood," comments Reinhold Raster, branch manager of PANDION in Munich. "In the immediate vicinity, on sites formerly used by Siemens and Infineon, the Weiße Quartier / Neue Balan has become the preferred office address for numerous innovative companies in recent years. We are convinced that our project will do justice to the further growing mixed use of this micro-location."
The press release on the purchase in Munich can be found here (DE).
Aerial photos: PANDION/Reichmann
Photo Reinhold Raster: PANDION/Büttner
