Spectacular landmarks are the company’s passion. Following the successful completion of Bavaria Towers with the sale of Blue Tower, Bayern Projekt is now focussed on the Olympia Business Center in Munich. With an eye on the future, Bayern Projekt is already setting the course for continued growth – in its home state of Bavaria and beyond.
Turning a passion for real estate into success
For years, the Munich-based project developer Bayern Projekt has been driven by this guiding principle. The result: truly unique and standard-setting real estate developments. In recent years, the developer has caused a sensation, particularly with its four, iconic high-rise towers that together form the stunning Bavaria Towers ensemble that creates a striking new gateway to Munich and redefines the east of the city. Bayern Projekt’s unwavering belief in the feasibility of the development is confirmed by the full occupancy of the EUR-380-million, 80,000-square-metre project. The towers’ top-class users include industry-leading companies such as Samsung, Ipsen, eGym, BayernHeim and NVIDIA. Most recently, Bayern Projekt has also sold the 72-metre Blue Tower to Real I.S. and BVK Bayerische Versorgungskammer and has handed over Star Tower and White Tower to ZURICH Versicherung. The successful completion of these custom projects provides clear confirmation that Bayern Projekt is not only an outstanding real estate developer, it is also an expert in the creation of entire urban quarters.
Olympia Business Center – taking offices to the next level
The company is currently writing the latest chapter of its incredible success story together with its joint venture partner Europa Capital with the Olympia Business Center (OBC) development on Georg-Brauchle-Ring in Munich’s Olympic Park district. This extraordinary landmark project underscores Bayern Projekt’s steadfast commitment to real estate projects and investments in Munich. Having acquired the property in 2017, the two joint venture partners have been busy revitalising OBC as part of a sensational, large-scale redevelopment project. Their ambitious goal is to create an office environment that sets completely new standards in Munich. According to Sven Renz, Managing Partner of Bayern Projekt, “Whenever we start working on a development, we need to be convinced of its success from the very beginning, which was definitely the case with Bavaria Towers. But not everyone shared our confidence 15 years ago, when the project got underway. The same applies to OBC, which we have designed to create the working environment of tomorrow, today, and to offer our tenants an unmatched user experience”.
Letting success after letting success
It is certainly a convincing concept. Currently, 50 per cent of the space in OBC has already been let and, by summer 2020, it looks as if this figure will have reached more than 80 per cent. In addition to the property’s attractive architecture and high-profile, highly visible and highly accessible location on Munich’s Mittlerer Ring, OBC’s staggering letting success is largely due to the strength of the project’s underlying concept, which combines state-of-the-art office space with co-working and co-eating, allowing OBC to adapt perfectly to users’ needs, today and long into the future. OBC is home to state-of-the-art office space that leaves nothing to be desired in terms of efficiency, energy consumption and digital infrastructure – it’s no surprise that OBC has been awarded LEED Gold and WiredScore certification. And with its park-style inner courtyard, extensive green spaces, terraces and welcoming meeting zones, the 38,000-square-metre OBC more than lives up to the vision of creating tomorrow’s working environments today. OBC also boasts a unique catering concept – Food as a Lifestyle – with a 2,000-square-metre market hall, managed by Vermaat & Käfer’s Tailor Made Catering (TMC). The caterer, which is opening its first premises in Munich in OBC, will in future cater for grade-A tenants, including the Bavarian State Office of Criminal Investigation and Munich Municipal Utilities, which have already signed long-term leases. With letting success after letting success, OBC is fully on schedule – the handover to the two major tenants is scheduled for May of this year, even before completion of the outdoor facilities.
Fit for the future – and the world beyond Bavaria’s borders
With OBC nearing completion, Bayern Projekt is already evaluating the market for high-potential, follow-up projects. In laying the groundwork for future growth, the company has also recently completed a process of strategic realignment, fine-tuned its structures and expanded its team. As part of this strategic realignment, Bayern Projekt has decided to even more clearly separate its business activities into three distinct divisions: Development, Investment and Management. Bayern Projekt Holding GmbH will manage the company’s real estate investments and its stakes in real estate projects and companies, while Bayern Projekt GmbH will provide project development and project management services. In future, Deutsche Projekt GmbH will be a separate entity within the group of companies and will manage the execution of selected projects nationwide, drawing on Bayern Projekt’s more than 20 years of expertise in managing developments with a combined volume of more than EUR 1.0 billion. As part of the strategic realignment, Markus Turrek, long-standing Authorised Signatory, has been appointed Managing Director of Bayern Projekt GmbH, where he will be responsible for the operative development business. With these organisational changes completed, Bayern Projekt is fit for the future. As Sven Renz confirms, “Our new management structures will allow us to more effectively exploit our experience and expertise as developers and investors as we continue to successfully deliver iconic real estate developments. And by expanding our focus to include major projects outside Munich, we are also striving to create synergies, share our capabilities and diversify risk. Our aim is to continue creating maximum value for our tenants, investors and project partners, while never losing sight of the risk/reward ratio!”