Von der Heyden Development, the service consultancy arm of Von der Heyden Group has made the first important purchase in the Bavaria.

In the top strategic location in Munich, on the border to Bogenhausen, at the beginning of the highway A94, providing access to the Munich Fair, VDHG and Bayern Projekt GmbH have purchased 3 office buildings and a warehouse building. The three pieces of real estate were purchased from two communities of heirs and Süddeutscher Verlag GmbH (the publisher of Süddeutsche Zeitung daily).

The investment made through a special-purpose subsidiary Bogenhausener Tor Immobilien GmbH, includes three functional well-maintained office buildings with rented space of over 85%, as well as one three-story warehouse building with rented space of 70%. The investment's total net usable floor space is approximately 20,500 sq m, including office floor space of approximately 13,000 sq m, warehouse floor space of approximately 6,500 and parking space for nearly 180 vehicles.

The VDHG's partner in the joint-venture founded for the purpose of project implementation and asset management is Bayern Projekt GmbH, a Munich-based real estate company with more than 20 years of operation experience, since 2002 lead by its Managing Partner, Sven Renz, FRICS. Over the last couple of years, Bayern Projekt GmbH has acted as an initiator and laid the foundation for the Group's real estate investment.


The Warsaw Voice - March 28, 2007