Successful forward sale of 93 subsidized apartments to WERTGRUND Immobilien AG

Date: Wednesday, June 01, 2022

We are pleased to announce the successful sale of a new-build residential complex in the Freiham development area of Munich to WERTGRUND Immobilien AG. The seller is our special-purpose entity established specifically for this project.

The 93 apartments are being built as part of the conceptual rental housing model (KMB). Among other things, this model provides for a maximum initial rent of EUR 13.50 per square meter and a commitment period of 80 years. The land has been allocated by way of a heritable building right with a term of 80 years. After the leasehold expires, compensation is paid at market value.

A total of four buildings with around 6,900 square meters of living space and around 760 square meters of commercial space are being built. At least 60% of the apartments are reserved for households whose members work in so-called shortage occupations.

MKE Munich Investment has secured the property in partnership with the City of Munich by way of a heritable building right and is assuming the role of developer and investor in the project.

Link Immobilien Zeitung: https://www.iz.de/transaktionen/news/-wertgrund-kauft-93-gebundene-wohnungen-in-muenchen-2000002365