QUEST Investment Partners acquires “Fritz” building in Ludwigsvorstadt, its first property in Munich
Quest publishes press release about a project we redevelop together:
Hamburg, 12 March 2020. After Hamburg, Berlin and Frankfurt, the project developers at QUEST Investment Partners have now also expanded into the Bavarian capital. Working with CSMM architects, they are revitalising an office and commercial building from 1973 situated at Schillerstraße 23a in Munich’s up-and-coming Ludwigsvorstadt district. The Fritz property is to undergo complete refurbishment, with only the shell of the building remaining. Two new full floors will be added — the building permit has already been obtained -, as well as a roof terrace with a view over the city. Balconies, bay windows and a glass extension with terrace areas will fill the future courtyard with new life and light. The new façade with its large window fronts will allow for light-flooded rooms and lend the building at the street corner a distinctive appearance. Spread across eight floors, some 4,500 m² of office space will provide state-of-the-art technology and rooms three metres high for flexible use.
The revitalisation of the Fritz building – named after the street’s namesake Friedrich Schiller – will begin in mid-2020, letting activities start these days. An added benefit for tenants and guests: there are 18 underground parking and outdoor parking spaces.
“We are delighted with our first property in Munich and remain convinced that the area around Schillerstraße will develop very positively,” says Jan Rouven Künzel, Managing Partner at QUEST Investment Partners. The pedestrian zone in this bustling and international neighbourhood with its numerous hotels, residential buildings, retailers and grocery stores is to be extended to connect the central station with Stachus and Marienplatz. The southern part of Schillerstraße, which already features microflats and apartment blocks, will be significantly upgraded by the planned campus for Earth and Environmental Sciences of Ludwig Maximilian University.
QUEST Investment Partners acquired the multi tenant property in early 2019. In the transaction, Deutsche Pfandbriefbank AG acted as financing bank, Cushman & Wakefield LLP as intermediary broker, Hansa Partner Rommel & Meyer as tax adviser and Greenberg Traurig Germany, LLP as legal adviser.