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Empira Group secures die Bayerische as tenant for Munich office complex THE SOURCE


Empira Group secures die Bayerische as tenant for Munich office complex THE SOURCE

· 11,550 m² of commercial space in LEED Platinum pre-certified building

· Additional 2,040 m² leased to engineering firm igb-Ingenieurgesellschaft Burgert and 2,300 m² to KITARINO

· PV modules on the façade, district heating from geothermal energy, parking spaces with charging stations

The Empira Group, a leading company for institutional real estate investments in Europe and the USA, has been able to secure the insurance company die Bayerische as a long-term tenant for 11,550 square metres of commercial space in the office complex THE SOURCE. With its 22 storeys the former Siemens high-rise building is a major landmark on the Munich skyline. The building is also well-known outside the city boundaries – and not just for its height. It played a key role in Germany’s economic development: as part of what used to be the Siemens site in the Obersendling area of Munich, the high-rise building was at the heart of German advances in micro-technology in the 1960s. Empira is revitalising the Siemens tower in the Obersendling district – which was built as long ago as 1961 – with completion scheduled for 2027, leading to the creation of a modern office property with two new office buildings and a forward-looking sustainability concept. Upon completion the complex will have a total leasable area of 51,800 square metres, with 2,040 square metres currently already leased to the engineering firm igb -Ingenieurgesellschaft Burgert and a further 2,300 square metres to the day nursery KITARINO.

“THE SOURCE is a pioneering project development, which is creating sustainable and innovative working space and which will revitalise an entire location in the long term,” explains Lahcen Knapp, the founder and chairman of the Empira Group.

“The significant leasing successes prior to the completion of THE SOURCE are testimony to the fact that there is still strong demand in the top 7 locations in Germany for office properties of a high architectural quality and with a high degree of energy efficiency. A considerable amount of commercial space in Germany’s metropolises fails to meet future regulatory energy requirements, which is why there are lucrative value creation opportunities for investors with the right transition-to-green approach,” adds Knapp.

LEED Platinum precertification thanks to cutting-edge sustainability and mobility concept

THE SOURCE will comprise three office buildings in the future. The revitalised “high-rise” building encompasses 38,200 square metres, while the new buildings – “Südgebäude” and “Nordgebäude” – provide 7,000 and 5,200 square metres of office space, respectively. 33,000 tonnes of concrete did not need to be demolished, and CO2 emissions are being lowered by 5,100 tonnes. This corresponds to the electricity consumption of about 600 houses per year. The accompanying energy concept includes PV modules on the façade, district heating from Germany’s largest geothermal energy plant, a double-skin façade, thermoactive ceilings, and charging stations for electromobility. The complex also sets standards when it comes to biodiversity: 1,600 square metres of biodiversity roofs, a greened area of 12,800 square metres and a 160-square-metre pond are establishing new habitats for native flora and fauna. An innovative smart mobility concept promotes car-sharing, the use of bicycles and usage of the local public transport network. Four platinum pre-certifications – including the internationally acknowledged LEED certification of the highest level – testify to the cutting-edge sustainability of the building. Thanks to the new supplementary buildings the possible uses now also include a conference centre, smart working areas, gastronomy offerings and fitness studios.

“Office of the future” a milestone in terms of employee attraction and sustainability

“Die Bayerische has ranked among the sustainability forerunners and the top employers in the insurance sector for many years now,” says Dr. Herbert Schneidemann, the chief executive officer of the insurance group. “Our new corporate headquarters epitomise this claim like no other office building in Bavaria. What will in the future be known as ‘Pangaea Life Campus’ is a significant element in our sustainable transformation and is reinventing one of Munich’s key landmarks at a site soaked in history. We are proud that from 2027 onwards we will be able to offer our employees this cutting-edge and forward-looking office space.”

Martin Gräfer, Board Member of die Bayerische, says: "Munich has been our home for over 165 years. Like the Bavarian capital, we stand for innovation, pioneering spirit and the willingness to constantly reinvent ourselves - without losing touch with our roots. With the sustainable flagship building "The Source" - our future "Pangaea Life Campus" - the Empira Group offers us the ideal place to express this claim in our workplace. In keeping with the building's history as a hotbed of innovation, our new headquarters will be the place from which we will continue and accelerate Bayer's sustainable growth story with the most promising solutions for our customers and sales partners."

The office complex has excellent links to the public transport network. A number of suburban railway, subway and bus lines can all be reached on foot in two to 15 minutes. Munich’s central station is less than twenty minutes away by rail.

About the Empira Group

As a provider of innovative property investments, the Empira Group offers a comprehensive, fully integrated platform for institutional investors focusing on the European and US markets. With an investment volume of around nine billion euros, Empira is the market leader in the German-speaking region.

Empira is recognised as a pioneer in the development and implementation of new, innovative approaches and investment strategies in the field of real estate equity and debt capital and has made a name for itself in particular with the introduction of debt products. Our property and capital market experts ensure that the entire value creation process for residential and office properties runs smoothly - all from a single source.

Headquartered in Zug, Switzerland, with further offices in countries such as Luxembourg, Germany, Sweden, the USA, the UK and Austria, the Empira Group is ideally positioned to offer our clients first-class service on a global scale.