Allianz formally takes ownership of Kap West office asset in Munich

Munich, 10/08/2020

Kap West, the latest addition to Munich’s growing office skyline, was formally handed over to Allianz on 1 October 2020 from the asset’s developers OFB Projektentwicklungs GmbH. The high-quality office building, soon to be LEED Gold-certified, will be actively managed by Allianz Real Estate on behalf of several Allianz Group companies.

Kap West

The forward purchase of Kap West was announced in early 2017. The construction completed in 2020 and, with demand high for offices with high standards of design and quality in a market with low supply, the building is almost fully let to tenants such as FlixMobility, Jambit, Avantgarde and Nutrion. These tenants have now all moved in and started operations, with the fitness centre operator Body & Soul having opened its new centre in the building in September. The asset’s 42,000 sqm are spread across a semi-basement and two towers, also boasting a spacious inner courtyard and roof terraces. Its location in Munich’s Hirschgarten office submarket gives users easy access to the city’s transportation network, either by train, by car or by bike, while it also offers sufficient underground parking spaces and bicycle stands.

Holger Hosang, Head of Germany at Allianz Real Estate, commented: “We’re delighted to be taking ownership of Kap West on behalf of Allianz. As we emerge from the Covid-19 pandemic, there is clearly a lot of pressure on office landlords to supply modern, flexible and sustainable workspaces which meet the health and well-being needs of its users. We achieve that with Kap West, an asset which, with its high-quality offering and strong location, typifies the type of office we believe will always be in demand.”

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