Munich, 29 November 2021 – Only a short time ago, the Munich real estate company ZAR Real Estate Holding made its first investments in its home market by purchasing two properties. These are now being followed by a further acquisition, this time in the east of Bavaria’s capital.
“This additional purchase in Munich underlines our stated intention to further intensify our activities in this city“, says Martin Hofmann, CDO and managing director of ZAR Real Estate Holding, and continues: “The property is in an excellent location, in a highly dynamic sub-market with an outstanding connecting infrastructure.” The current plan foresees an off-market deal for a purely commercial development. The anticipated total project volume is approximately 200 million EUR, depending on the planning scenario. The deal was accompanied on the seller side by BNP Paribas.
Only a few months ago, ZAR acquired properties at the northern edge of the city as well as in a central location of Munich. The plans envisage both a housing development and a mixed residential and commercial project. “We have much to do in the coming months,” explains Daniel Argyrakis, CFO and managing director of ZAR Real Estate Holding: “Our strategic reorientation on the southern German market is accompanied by the first sustainable urban development projects under the ZAR Real Estate flag. We will also soon be creating a new fund for our real estate financing.”