HOCHTIEF Projektentwicklung sells smarthouse in Munich

Competo Capital Partners acquires office and commercial building for investor consortium

HOCHTIEF Projektentwicklung has sold the smarthouse in Munich to Competo Capital Partners. The real estate company acquired the office and commercial building which was completed in 2012 for the “Competo BestandPlus” investor consortium that it represents. It was agreed that the purchase price would not be disclosed. Around 90 percent of the seven-story smarthouse’s 22,000 square meters are let.

Apart from all Munich units of HOCHTIEF, the smarthouse is predominantly used by service providers in the information technology and communication/ advertising/consultancy industries. The rental areas, ranging in size from 280 to 7,300 square meters, are reached via six separate entrances. The ground floor contains grocery stores, restaurants, an EMS training studio (electronic muscle stimulation) and a child day care center. The building’s landscaped inner courtyard is open to all users and visitors. The smarthouse has been awarded with the Green Building Label from the German Energy Agency, dena, holds Gold precertification from the German Sustainable Building Council, DGNB and is currently aiming for full DGNB Gold certification. The certifications honor, for example, the building’s sustainable and cost efficient operation: rooms are cooled and heated using the soil and groundwater temperature, while the daylight-dependent artificial lighting is regulated automatically.

HOCHTIEF is one of the most international construction groups worldwide. The company delivers complex infrastructure projects, in some cases on the basis of concession models. The Group operates in the transportation infrastructure, energy infrastructure and social/urban infrastructure segments as well as in the contract mining business. With nearly 80,000 employees and a sales volume of more than EUR 25 billion in FY 2012, HOCHTIEF is represented in all the world’s major markets. With its subsidiary Leighton, the Group is market leader in Australia. In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner and, with Group company Flatiron, ranks among the most important players in the field of transportation infrastructure construction. Because of its engagement for sustainability, HOCHTIEF has been listed in the Dow Jones Sustainability Indexes since 2006.

HOCHTIEF Projektentwicklung as a subsidiary of the HOCHTIEF Group has been developing, realizing and marketing real estate projects in Germany and abroad since 1991 and is considered Germany's leading inner-city center developer. Its core business comprises office buildings in downtown locations and areas within easy reach of city centers. It also focuses on residential properties, retail properties, and the development of entire urban quarters. HOCHTIEF Projektentwicklung does not build up any property portfolio of its own but operates as an "interim investor" with the goal of selling the projects to a final investor well-let and as swiftly as possible. With its offices in Germany and Europe, the company makes sure it is close to its clients. Sustainable concepts, prime locations, sophisticated architecture and innovative technology make for value creation and cost reductions.

Gabriele Stegers
Head of Corporate Communications
HOCHTIEF Projektentwicklung GmbH
Alfredstrasse 236
45133 Essen
Germany
Tel.: +49 201 824-2282
Fax:+49 201 824-1728
Email: gabriele.stegers@hochtief.de
Web: www.hochtief-projektentwicklung.com

This release was published on openPR.