DLA Piper provided legal advice to a fund advised by Ginkgo Advisor on the formation of a joint venture with Munich-based ALP.X Group. The objective of this joint venture is to engage in the development of the future GUTE UTA Quarter on Rappenweg in Munich-Trudering. The investment in this urban district development project marks Ginkgo's market entry into Germany.
Ginkgo, a company of the Edmond de Rothschild Group, is an established European investment platform for sustainable urban development. Since its inception in 2010, the company has been active with three funds and an equity volume of approximately EUR 875 million. In total, projects comprising over 1.5 million square metres of mixed-use urban development have been realised or initiated in 33 European metropolitan areas. This joint venture combines Ginkgo's Europe-wide expertise in sustainable urban regeneration with ALP.X Group's local investment and development competence.
GUTE UTA Quarter Development
The joint venture will assume responsibility for the development of an approximately 85,000 square metre plot within the overarching planning area, in close coordination with Bayerische Hausbau Development. This planning area spans around 25.5 hectares. Further planning procedures envisage cooperation with the other project participants and the City of Munich.
The plans anticipate the creation of an urban, mixed-use district. Between 2,000 and 2,700 residential units are to be built, with approximately 50 percent of these being subsidised. In addition, commercial spaces, daycare centres, retail offerings, and green and open spaces are planned.
The site currently serves, among other things, as a location for manufacturing businesses, as well as for logistics and storage. Existing uses are to be maintained temporarily until the commencement of development and construction work. The development of the GUTE UTA Quarter in Munich-Trudering thus represents a complex undertaking, aiming to integrate existing infrastructures and enable a sustainable transformation into an urban mixed-use area.
