KGAL Investment Management has commenced marketing in the residential quarter at Candidplatz in Munich's Untergiesing district. The site combines existing structures and new builds across a total lettable area of around 24,000 square metres. A total of 355 residential units are being created at this location, covering flat sizes from one to five rooms and partially offering views of the Alps.
The urban ensemble comprises six structurally extended existing buildings and a new-build complex. The latter is divided into five building structures, including a prominent 13-storey residential tower. The Munich-based asset manager acquired the project after the planning phase was completed and independently managed the subsequent delivery.
Differentiated housing mix and institutional fund structure
The new-build phase accounts for 186 flats. Of these, 117 units are privately financed, with marketing initially launched for 82 units. A further 69 new-build flats were designed under the income-oriented subsidy scheme (EOF) to provide affordable housing in the inner-city area.
Karl Neumann-Henneberg, portfolio manager at KGAL, considers the start of letting to be a significant project milestone. He noted that the broad range of layouts caters to diverse target groups, while the concept focuses on a functional combination of subsidised and privately financed housing with local amenities, childcare and transport connections for the neighbourhood.
The property is part of the KGAL Wohnen Core 3 special fund. This institutional real estate fund focuses nationwide on ESG-compliant residential properties with sustainable building fabric.
Infrastructure, local amenities and transport connections
The property is located in the immediate vicinity of the Candidplatz underground station, ensuring frequent connections to Munich city centre. Complementing the transport links, a ground-floor commercial unit was handed over to food retailer Edeka on 30 September, with the tenant fit-out nearing completion. Final discussions with the City of Munich are currently underway regarding the planned day care centre.
- —750 bicycle parking spaces and an on-site bicycle workshop
- —Car-sharing facilities with electric vehicles and integrated e-bike sharing
- —87 parking spaces in the on-site underground car park
- —Transferable season tickets for the Munich Transport and Tariff Association (MVV)
