The Temmler site in Munich - a prime example of the transformation of former industrial space into a hip urban quarter
The “Mjunic” project is located at Levelingstrasse 17 in Munich, on the former Temmler site in Berg am Laim. A relocation of the Temmler pharmaceutical company led to the sale of the site in 2016. In recent years, a modern residential and commercial quarter has emerged on the former industrial estate. The district has visibly developed into an urban and creative place. The mix of gastronomy, shopping and leisure facilities attracts both residents and companies to the new urban quarter. In addition to companies such as Willy Bogner and C. Bertelsmann Verlag, the area is also home to numerous co-working spaces, start-ups, hotels and modern conference centers.
The district's infrastructure has also been significantly expanded. In addition to transport links such as the subway and streetcar, access to cycling infrastructure and footpaths has also been optimized, for example. This has facilitated connections to Munich's city center and other districts. Despite the urban development, care has been taken to preserve and create green spaces. Parks and recreational areas contribute to the quality of life accordingly.
Development of “Mjunic” and associated objectives
After demolishing the old building, the KanAm Grund Group began work on the “Mjunic” project in March 2022 on an area of just under 5,000 square meters. The investment volume was around 30 million euros.
After around two and a half years, the construction of a new aparthotel with 90 serviced apartments was completed in July 2024.
The four-storey modern building with maximum energy efficiency impresses with its spectacular architecture. The front of the building is characterized by an eye-catching metal façade with a diamond structure in gold, dark green and anthracite. The high-quality and modern interior, including a lobby cube, bar and food station, invites you to linger. Guests can also enjoy a sundowner on the impressive sky terrace while the washing machine does its work in what is probably the first wash bar above the rooftops of Munich.
The “Nena Apartments Berg am Laim”, operated by Nena Hospitality, have been welcoming guests since July 2024.
A detailed description of the project can be found here on the website of Deutsche Baumeister & Architekten Im Fokus (dba GmbH).
Like the recently presented “Myhatten” project, “Mjunic” is also part of the portfolio of the KanAm Grund German Development Fund launched in 2018. The project development fund is providing the equity and mezzanine capital as part of the purchase. The KanAm Grund Group's Development Management Germany team is responsible for the purchase, conceptual design and technical and construction law management of the projects as well as their potential sale.
Holistic and targeted realization of project developments
The KanAm Grund Group attaches great importance to the targeted and success-oriented implementation of its project developments over the entire life cycle.
With development expertise covering a project volume of around EUR 8 billion, the company places high demands on quality, cost efficiency and on-time completion - key factors for the economic success of the projects it realizes for its investors.
Operational and strategic development activities are managed from the headquarters in Frankfurt am Main, with a focus on project developments in Germany.
The tasks of the Development Management Germany team include the acquisition, conceptual design, and technical and legal management of projects, including the potential sale of these properties. In addition, it is important to the KanAm Grund Group to integrate sustainability and social progress into its projects.
“Mjunic” as an example of the KanAm Grund Group's holistic development expertise
The “Mjunic” project is an example of the KanAm Grund Group's holistic development expertise and illustrates its enthusiasm for sustainable solutions with substance and long-term value creation potential. This involves the holistic design of real estate over its entire life cycle.
Our detailed services in the realization of “Mjunic” can be divided into three phases:
1. Sourcing and Acquisition
After attracting investors for this project, we successfully set up the equity and debt financing required to acquire the land and implement the project.
2. Realization of the Project Development
This was followed by the conceptual design, planning coordination, management of the tendering process and definition of the award strategy before we were able to initiate the management of the authorities to obtain the building permit. In the next step, project monitoring was set up to ensure continuous project control. Other related activities included the management of bank controlling and reporting to external parties, stakeholder management, the successful letting of NENA apartments including tenant management during construction and the coordination of handover/commissioning parallel to the completion of the project.
3. Exit Strategy
The KanAm Grund Group's development team has also drawn up an exit strategy with various options. In addition to sale and restructuring, transfer to portfolio management is another option. We have currently opted for the latter in the case of “Mjunic”. By securing this top asset in a good location in Munich for the long term, we can generate attractive returns for our investors in the long term.
Good reasons for the realization of the development...
- The construction of the serviced apartment hotel is aimed at meeting the growing demand for overnight accommodation for travelers in an ideal location close to the Ostbahnhof train station, the Munich Trade Fair and Munich city center.
- Munich is very popular with tourists worldwide, and business tourism has also experienced an impressive and sustained recovery from the corona low in the last two years. Following numerous major events, including in the fields of sport and music, the Bavarian capital can look back on a record year in terms of visitor numbers and overnight guests in 2024. Rising numbers are also forecast for the coming years.
- In the immediate vicinity of the aparthotel, urban development potential has been/will continue to be realized, including through numerous new developments in the east of Munich, including the Macherei, the Werksviertel and the office and hotel high-rise NEO - The SUN.
- Prior research results have confirmed the positive development of this location as one of Munich's up-and-coming districts.
Further development approaches under review
In addition to managing and developing existing projects, the KanAm Grund Group is constantly reviewing potential new development approaches. Properties and projects with an equity volume of approximately EUR 10-50 million are of interest. In addition to hotels and serviced apartments, the focus is on the logistics & light industrial, office and residential segments in Germany's top 7 cities and economically strong metropolitan regions, as well as throughout Europe. Central locations with good connections and existing or readily available building rights are of great importance. In addition, refurbishment and repositioning approaches are constantly being examined.
We look forward to hearing from you at: development@kanam-grund-group.de