Commerz Grundbesitz Commits itself in Munich

Just days ago, Commerz Grundbesitz-Investmentgesell-schaft mbH (CGI), a part of Commerz Grundbesitz Group, signed the deed for the Medienfabrik complex under construction in Munich. The “media factory” is earmarked for hausInvest europa, one of the open-ended property funds that CGI manages. The total investment volume comes to approximately Euro 70 million.
The property was sold by the Munich-based project developer Accumulata Immobilien Development GmbH. The transaction was supervised by the real estate consulting company of Colliers Schauer & Schöll.
Medienfabrik represents a project development on Theresienhöhe in Munich’s Westend district. The site is located right across from the old Munich fairgrounds and close to the Oktoberfest grounds. Construction work is scheduled to start in summer 2007.

Following its planned completion by the end of 2009, Medienfabrik will have a lettable floor-space of 29,000 m² (gross lettable area, including basement levels), consisting of about 13,000 m² in existing floor-space and about 16,000 m² in new floor-space.
The combination of commercial architecture from imperial times and state-of-the-art new space, along with the pronounced loft character, will invest this site with a unique architectural ambience.
“Medienfabrik fuses modern architecture with the appropriate economic parameters. In addition, the subject-oriented concept of usage is of particular import for Munich as media metropolis. Because the custom-focus on tenants from the booming media industry with its interfaces to the IT and communications industry implies a clear competitive advantage,” argues Dr. Frank Pörschke, Chairman of the Board of Managing Directors of Commerz Grundbesitz Group.
On top of that, signing the deed for Medienfabrik in Munich underlines the consistent investment strategy the Group has been pursuing. “In the past 5 months, we signed deeds for 13 properties with a total volume of approximately Euro 600 million for our property retail funds

and our institutional property funds. We are planning to acquire more than Euro 2 billion worth of real estate worldwide,” Pörschke emphasizes.


A Word on Commerz Grundbesitz:

Commerz Grundbesitz counts among the global leaders in real estate asset management, managing open-end property retail funds along with institutional open-end property funds and REITs. The Group currently manages real estate with a volume of approximately Euro 13 billion worldwide. With foreign real estate assets of more than Euro 10 billion, and a gross lettable area of about 3 million m2, Commerz Grundbesitz Group is one of Europe’s largest real estate investment houses.
The Group includes Commerz Grundbesitz-Investment GmbH (CGI), a capital investment company founded in 1992, which manages the Group’s retail funds. These include the market leader hausInvest europa, with a fund volume of more than Euro 8.2 billion Europe’s largest open-ended property fund.
In March of 2004, CGI started hausInvest global, an open-ended fund with investments worldwide and a fund volume now worth approximately Euro 1.4 billion. The market share of CGI in the overall volume of mutual real estate funds currently exceeds 12%. So far, more than 450,000 investors have invested in CGI funds.