#Deal
#Urbanisation
#Investors

Brooklyn in Bavaria

"Macherei" project in Munich

What is the secret to converting a former industrial district into a cool, lively office and business quarter? The developers behind the “Macherei” project know just what it takes: by 2019 they will have created an animated new quarter that they hope will significantly raise the profile of Munich’s up-and-coming Berg am Laim borough. The project is modelled on similar transformations of former industrial districts in places like Brooklyn, New York. Helaba is financing the project with a loan in the hundreds of millions of euros range.

"Macherei" Project in Munich

Berg am Laim seems at first glance to have little in common with Munich’s most desirable addresses – Schwabing, Maxvorstadt, Glockenbachviertel and the like. Take the time to wander its streets, however, and a charming picture soon emerges: the historic district centre, the many green spaces and the church of St. Michael, one of the most splendid rococo churches in the whole of Germany. Berg am Laim has good transport connections too, with the Ostbahnhof station just moments away by underground or local rail and the motorway no more than a few minutes’ journey by car.

The borough has been slowly emerging from its slumbers ever since the Neue Messe exhibition centre opened in the neighbouring suburb of Riem at the end of the 1990s. The City of Munich has made a considerable effort to make the former workers’ and industrial district more attractive as a place to live: industrial sites and roads have been redesignated; an area formerly used by the railway has been converted into a residential and office district and a public plaza has appeared where once there lay a derelict car park.

Christian Buck
Real Estate Finance Munich

Financing commercial real estate

Large-scale real estate projects have been our core business for decades and throughout all economic cycles.

A space the size of four football fields

City planners also have high hopes for the Macherei, where the towering construction cranes first began to sprout in autumn 2017. The project developer, a joint venture between Cologne-based Art-Invest Real Estate and Munich’s Accumulata Immobilien, plans to create a blend of loft offices, commercial space, shops, leisure facilities and restaurants topped off with a hotel. 

A former industrial site, the land was once home to the Temmler factory but had been derelict for some time – a vacant space in the city the size of four football fields. “We spent hours, days even, at the site wondering what to do with it. And then all of a sudden it came to us: we had so much space here that we could create a central plaza in the middle with a linked, contiguous quarter extending around it,” recalls Dieter Weiß, Managing Director of Accumulata Immobilien. 

The 52-year-old real estate pro could already see a bright new future where others saw only post-industrial wasteland: “An area of this size right in the heart of Munich is not something you run into every day!” Weiß has been developing real estate in the Bavarian capital for a quarter of a century and knows the city inside out. Munich, he says, is growing eastwards because the eastern city limits lie closer to the centre. This is where the city authorities want businesses to settle and where they want new areas opened up.
When the Temmler zone came up for sale, Accumulata Immobilien and Art-Invest Real Estate submitted the winning bid. Helaba took care of the finance with a loan in the hundreds of millions of euros range. 

An architectural design competition resulted in the investors nominating three internationally renowned firms for the development: HWKN Hollwich Kushner from New York, msm meyer schmitz-morkramer from Cologne/Frankfurt and Munich’s OSA Ochs Schmidhuber Architekten. Landscape architecture for the project has been entrusted to Studio Vulkan of Zurich.

Global Player

More than half of the total area are publicly accessible

“We decided to work with three firms of architects because we knew right from the beginning of the project that we wanted a varied yet complementary and sustainable creation that would give the whole district a boost and be unique for Munich,” recalls Ferdinand Spies, Managing Director of Art-Invest Real Estate.

The plans envisage six new buildings grouped around a central plaza. An enticing network of pathways and green spaces will replace the high fences that have surrounded the site for so long. “We want to see our Macherei development full of life in the evening and at weekends too, so we are making more than half of the total area publicly accessible for use even outside of office hours,” adds Ferdinand Spies. 

The new quarter will also gain a range of restaurants and food outlets, a grocer’s shop, a Design Hotel and a fitness studio to help the up to 2,000 people who will be employed here feel at home. Loft offices will account for 55 percent of the rental space. The heart of the ensemble is the incubator, a 15,000 square meter start-up hub providing co-working facilities and conference rooms. Its clinker facade serves as a reminder of the brickworks that once called Berg am Laim home.

Beautiful future: a modern quarter for living and working
Beautiful future: a modern quarter for living and working

Herb gardens and industrial ambience

“We have intentionally modelled the Macherei on typical former industrial zones like Brooklyn, which have grown to be the coolest and liveliest parts of their city,” says Guido Prummer, Weiß’s colleague on the Accumulata Immobilien managing board. “What’s true for New York, Oslo, Copenhagen and Hamburg also goes for Munich: as industry has retreated, former outlying districts on the Eastern edge of cities the world over have been reborn as highly desirable addresses.”

Companies wishing to attract talent to new developments away from the city centre need to make sure they have a strong and appropriate offer. The developers behind the Macherei reviewed similar largescale redevelopments not just in Germany (Berlin, Frankfurt and Düsseldorf ) but further afield as well (Brooklyn, the Bronx and Manhattan) in connection with the project. “We allowed ourselves to be guided principally by the retro style of 1920s New York, all brick and glass,” recalls Tobias Wilhelm, project manager for the Macherei at Art-Invest Real Estate. “The buildings will include loft offices with really high ceilings and exposed ductwork for a distinctly industrial feel.” 

The quarter needs to find a way to stand out: standard office space and anonymous architecture are not going to draw in the creatives. The developers understand this, of course, and have plenty of ideas about how to give the development its own special character. The rooftops, for example, are treated in the designs as a fifth facade, a place of herb gardens, open-air workspace and even a running track. It would be the first of its kind at this level anywhere in the city.

"We want to see our ‘Macherei’ development full of life in the evening and at weekends too, so we are making more than half of the total area publicly accessible."

Ferdinand Spies

Managing Director of Art-Invest Real Estate

The "Macherei" Project was intentionally modelled on typical former industrial zones like Brooklyn, which have grown to be the liveliest parts of their City.

Further selected stories

We, the Landesbank Hessen-Thüringen Girozentrale (Helaba), use cookies that are absolutely necessary to provide you with our website. No additional cookies will be set for the duration of your visit to this website if you close the banner by clicking on "Decline". If you give your consent, we will use additional cookies to process information about your use of our website for the purposes of statistics (such as measuring reach) and marketing (such as displaying personalized content).

Your consent is voluntary and not necessary for the use of the website. By clicking on "Settings", you can individually determine in detail which cookies we may use based on your consent.

You can also consent to all additional cookies at the same time by clicking on "Accept".

You can revoke your consent at any time via the "shield icon" in the toolbar on each page or change your cookie settings there.

Cookies

When you visit our website, Helaba makes use of required and optional cookies. Cookies are small text files that are stored on your computer and saved by your browser. Their purpose is to make our range of services more user-friendly, for example so that you do not have to re-confirm an automatically generated disclaimer more than once. Cookies that we use are so-called “session cookies” because they are automatically reset at the end of your visit to our website.

Further information on the use of cookies on helaba.com can be found at Data protection.

cookie [publisher]purposestorage period / Follow-up processingthird country transfer
disclaimer_disclosureRequirements [helaba]necessary: Verification when accessing certain (sub) areas of the websitesessionno
disclaimer_residenceGermany [helaba]necessary: Verification when accessing certain (sub) areas of the websitesessionno
hideCookieNotice [helaba]necessary: Saves that the cookie or data protection notice will not be requested every time you visit.30 daysno
WSESSIONID [helaba]necessary: Standard cookie to use with PHP session data.sessionno

The sole purpose of using analytical services on our website is to optimise the online information we provide. Data collected in this way, such as IP address, date or time of the request, contents of the page accessed or the browser used do not enable any users to be directly identified. Analysis by Helaba of a user’s data is not intended to identify any individuals or conduct any profiling, in order to, for instance, send online advertising to visitors of our website.

You  find more information on statistics cookies here: Data protection

cookie [publisher]purposestorage period / Follow-up processingthird country transfer
_et_coid [etracker]statistic: cookie detection2 years / Evaluation to improve the user experience of our websiteno
allowLoadExternRessources [helaba]statistic: Saves the user decision that external components may be loaded automatically.30 days / Evaluation to improve the user experience of our websiteno
allowTracking [helaba]statistic: Saves the user decision that visitor behavior may be tracked.30 days / Evaluation to improve the user experience of our websiteno
BT_ctst [etracker]statistic: Is used to detect whether cookies are activated in the visitor's browser or not.session / Evaluation to improve the user experience of our websiteno
BT_pdc [etracker]statistic: Contains Base64-coded visitor history data (is customer, newsletter recipient, visitor ID, displayed smart messages) for personalization.2 years / Evaluation to improve the user experience of our websiteno
BT_sdc [etracker]statistic: Contains Base64-encoded data of the current visitor session (referrer, number of pages, number of seconds since the beginning of the session), which is used for personalization purposes.session / Evaluation to improve the user experience of our websiteno
isSdEnabled [etracker]statistic: Detection of whether the visitor's scroll depth is measured.1 hour / Evaluation to improve the user experience of our websiteno

On our website, we use a so-called re-targeting technology provided by The UK Trade Desk Ltd., 10th Floor, 1 Bartholomew Close, London EC1A 7BL, United Kingdom. With this technology, cookies (so-called third-party cookies) are stored on your hard drive when you visit our website. These cookies are either permanent or temporary cookies that are automatically deleted after a certain period of time has elapsed.

You find more information on marketing cookies here: Data protection

cookie [publisher]purposestorage period / Follow-up processingthird country transfer
EDAAT [.adsrvr.org]Marketing: Stores a temporary security token for EDAA sign-out pages such as http://www. youronlinechoices. com/1 hour / evaluation for the playout of banners for marketing purposesyes / United Kingdom
TDCPM [.adsrvr.org]Marketing: Matching IDs to avoid redundant calls.365 days / evaluation for the playout of banners for marketing purposesyes/ United Kingdom
TDID [.adsrvr.org]Marketing: recognition of web profiles over time on different websites.365 days / evaluation for the playout of banners for marketing purposesyes / United Kingdom
TTDOptOut [.adsrvr.org]Marketing: Stores the decision to opt out of re-targeting.5 years / evaluation for the playout of banners for marketing purposesyes / United Kingdom
TTDOptOutOfDataSale [.adsrvr.org]Marketing: Stores the decision against selling data to third parties.5 years / evaluation for the playout of banners for marketing purposesyes / United Kingdom
No choice made so far
Partial selection made
Agreed to all cookies