Das Leuchtenberg, Munich

Creation of a fully revitalised, contemporary working environment

The backdrop

Das Leuchtenberg is a 30,000 sqm office building located in Munich East. When InfraRed acquired the site off-market in March 2015, it was perceived as a depreciating asset with little appeal to tenants or investors.

11 years

secured weighted average income

100%

occupancy

30,000 sqm

office space

Das Leuchtenberg 1
Das Leuchtenberg 2

Creating spaces to inspire peoples' lives

Das Leuchtenberg represents one of the most successful ‘manage-to-core’ projects for the business to date.

During our 3-year ownership, InfraRed transformed the asset. A dilapidated 1980s office building with 60% vacancy and a 2-year average lease expiry has been completely transformed into a contemporary space, with full occupancy delivering strong income for the next decade.

We invested over €30m to significantly upgrade every aspect of the building. The main frontage, staircases, lift lobbies and a large inner courtyard were all completely redesigned to create appealing, employee-friendly amenities. Office areas were fully refurbished and a number of new occupiers secured.

As testament to the transformation of Das Leuchtenberg, the City of Munich relocated its offices to the property expanding over 3 phases before signing up to a total of 17,000sqm for 15+ year leases.

In June 2018, InfraRed sold the fully let property as a core asset.

“Das Leuchtenberg shows how InfraRed transforms under-managed assets. From an initially poor cashflow, we created an institutional investment product with long and secure income streams.” Joram Szerkowski
Director, Real Estate