Competo Capital Partners has acquired the Smarthouse office and commercial building in Munich from developer Hochtief.
Competo Capital Partners has acquired the Smarthouse office and commercial building in Munich from developer Hochtief.
Munich-based Competo carried out the transaction for the Competo BestandPlus investor consortium that it represents.
The financial details were not disclosed.
Around 90% of the seven-storey, 22,000 m2 building is let.
The Smarthouse is predominantly used by service providers in the information technology and communication/ advertising/consultancy industries. In addition, all Hochtief's Munich units are based there.
The rental areas, ranging in size from 280 to 7,300 m2, are accessible via six separate entrances. The ground floor contains grocery stores, restaurants, an EMS training studio (electronic muscle stimulation) and a childcare centre. The building’s landscaped inner courtyard is open to all users and visitors.
The Smarthouse has been awarded the Green Building Label from the German Energy Agency Dena, has Gold precertification from the German Sustainable Building Council DGNB and is currently aiming for full DGNB Gold certification.
