PRESS

GARBE Institutional Capital acquires Mäander development near Munich from asto Group as seed investment for new science and technology fund




Hamburg, 05.04.2022. GARBE Institutional Capital has acquired the technology property "Mäander" from the investor and real estate developer asto Group. The move was taken on behalf of the open-ended alternative investment fund (AIF) "GARBE Science and Technology Real Estate Fund 1" (GARBE STREF #1). The fund was launched together with the capital management company (KVG) INTREAL and is structured as a club deal of institutional investors. Mäander is located in an established innovation cluster between Oberpfaffenhofen and Gilching near Munich. The new building is being developed primarily for tenants from the research and development sector (R&D).

Mäander comprises approximately 18,100 sqm of gross floor area (GFA) and 245 car parking spaces with 100 charging points for electric vehicles. The building in Zeppelinstrasse is already 84 per cent let and completion is scheduled for the end of 2022. Tenants include several renowned technology companies from the aerospace industry. These include ABB, Quantum-Systems and Vectoflow. The asto Group itself will also set up its headquarters in Mäander.

In its developments, the asto Group focuses on sustainable energy supply. Currently, it is preparing to enter the field of geothermal energy supply, together with industrial partners. Clean energy from a nearby borehole with a capacity of 14 megawatts is expected to cut annual CO2 emissions by 30,000 tons per year.
Ekkehart Fabian, Managing Director of the asto Group, says: "’asto Mäander’ offers ideal conditions for technology-savvy companies and future-oriented jobs. Tenants benefit from highly flexible layouts, attractive working environments and the proximity to our technology and aerospace cluster. The early sale of the property to a renowned investor emphasises the attractiveness of its concept. As part of a long-term partnership with GARBE Institutional Capital, we will continue to manage the building after completion." Since 2007, the asto Group has been developing an innovation cluster in Oberpfaffenhofen and Gilching, with a focus on aerospace technology. In the meantime, more than 120 companies have settled at the site.

Thomas Kallenbrunnen, Managing Director of GARBE Institutional Capital, says: “With Mäander, our investors benefit from the strongly growing research & development sector. The building is particularly compelling due to its location in an innovation cluster.”

The forward deal marks the first purchase for GARBE STREF #1 with a total target investment volume (GAV) of around EUR 400 million. Investment objectives of this AIF are defined by a tenant-oriented investment approach: all assets must be used primarily for research & development, and third-party usability is the most important investment criterion.