pbb provides EUR 106 million to Bauwerk for the construction of a residential and office ensemble in timber hybrid construction in Munich


pbb Deutsche Pfandbriefbank is providing project developer Bauwerk with EUR 106 million in financing for the "VINZENT" new construction project in Munich.

A completely new type of residential and office property is being built in the heart of Munich's popular Neuhausen district. The first inner-city timber hybrid ensemble in Munich sees itself as a pioneer for sustainability in urban spaces and offers space for 56 residential units as well as around 400 workplaces on approx. 13,400m². An intelligent façade greening system ensures a pleasant climate and sustainably improves the air quality. A green inner courtyard, parking and charging areas for e-cars and e-bikes as well as 147 bicycle parking spaces and car-sharing services round off the ecological concept. Bauwerk also attaches particular importance to the networking of residents and office staff. Bauwerk is aiming for Leed Gold certification for the office building; completion of the entire ensemble is planned by mid-2024.

Dirk Jakubiak, Head of pbb's Real Estate Finance business for the Southern Germany region, said: "The topic of sustainability is also becoming increasingly important in the real estate sector - demand for ecological and innovative concepts is also rising, particularly in inner-city centres. We are therefore very pleased to be able to implement this project for our long-standing client Bauwerk in our home region."

Jürgen Schorn, managing partner of Bauwerk, added: "VINZENT is one of the most sought-after projects among our customers. One year after the start of sales, 50 percent of the 56 condominiums with one to four rooms have already been sold. Never before have we built a project whose flats we placed so quickly. Interest in the office space is also high. In particular, the central location, the sustainable overall concept and the high quality of the fittings are convincing and strike a chord with the times."