Munich, June 29, 2021. Isaria Projektentwicklung is developing the new mixed-use ZAM district center for the Deutsche Wohnen Group in Munich’s Freiham district. Construction work began in January 2021. The Stadtsparkasse München bank has now decided in favor of this location and is renting space there.
The new district center will feature a broad mix of uses. The Stadtsparkasse has secured an area of around 350 m² on the first floor of the MK 2.2 building segment. They will take the space on a 15-year lease agreement. The organic food retailer tegut recently leased around 1,590 m² of retail space in the MK 2.1 building segment.
“We want to create a vital environment for residents and visitors, as well as with vendors who have a long-term commitment to this location,” says David Christmann, managing director of Isaria Projektentwicklung. First-floor occupation plays an important role in the ZAM neighborhood. “The first floors will feature a mix of shopping, services and restaurants, providing a varied offer,” Christmann said. The first floors are being considered for use as medical practices, offices, and other commercial spaces—close to the people that need them. The apartments will be located on the floors above these. “Stadtsparkasse München, the largest savings bank in Bavaria, fits perfectly into this mix,” emphasizes Christmann.
The transaction with Stadtsparkasse München was brokered by IPH, which is the sole agent charged with leasing ZAM retail spaces.
The ZAM neighborhood is being developed on four construction sites. Two of the plots of land to be developed, on a total area of around 13,000 m², are owned by the Rosa-Alscher Group. Isaria is developing the other two plots for the Deutsche Wohnen Group. On these two sites alone, more than 300 rental apartments, including a 61-meter-high residential tower, approx. 5,400 m² of offices and medical practices, and approx. 6,000 m² of retail and restaurant space are scheduled to be built.
Isaria commenced construction work in January 2021. Shell construction work will begin at the end of the year. The apartments should then be completed by mid-2024 and will then be ready for occupation.
About Isaria München Projektentwicklungs GmbH
Isaria specializes in the development of city districts and sustainable buildings in urban areas. From the time of acquisition through to the construction phase, all projects undergo sustainability analyses as a matter of routine. The goal when doing this is always to develop livable urban districts while conserving resources, for example on the MD paper factory site in Dachau, where up to 1,000 apartments are to be built in the coming years. Isaria is part of Quarterback Immobilien AG.
About Stadtsparkasse München
One in two Munich residents entrusts their money matters to the Stadtsparkasse München bank, which has a long history dating back to 1824. It is the market leader in the retail segment and has the most main banking relationships. It is also the market leader among corporate customers, with one in three Munich companies being Stadtsparkasse account holders. It offers by far the most comprehensive branch network of all credit institutions in the city area. Together with its partners from the Sparkassen-Finanzgruppe (Savings Banks Finance Group), Germany’s largest financial network, it provides the full range of financial services, investment opportunities and forms of financing. The so-called “S-App” from Sparkasse was downloaded 27 million times in 2020 and is the most-used banking app in Germany. Stadtsparkasse München is the largest Bavarian and fourth-largest German savings bank with average total assets of 21 billion euros (2020). The credit institution employs 2,030 savings bank employees and 260 trainees (December 31, 2020). As a savings bank, it is particularly committed to Munich’s social and cultural scene. It also operates an online donation platform for Munich’s citizens in cooperation with betterplace.org; this can be found at www.gut-fuer-muenchen.de.
About IPH Handelsimmobilien GmbH
IPH Handelsimmobilien GmbH was founded in 1994, with its headquarters in Munich and branches in Hamburg, Berlin, Cologne and Leipzig. It is a subsidiary of BBE Handelsberatung and a sister company of elaboratum New Commerce Consulting. It is a service provider for all issues relating to retail real estate. IPH Handelsimmobilien designs, develops and markets individual retail spaces through to shopping and retail parks, whether revitalization projects or new development. Another of their specializations is center and property management, which is bundled in IPH Centermanagement GmbH, a joint venture with IC Immobilien Group. The group of companies employs 170 retail experts.