HCOB funds residential project in Munich

Hamburg Commercial Bank (HCOB) is providing €55.5 mln in financing for a new residential development in Munich's Ramersdorf-Perlach district.

 Ottobrunner Straße, Munich - Instone

This project is a joint venture between Urban Partners, an urban transformation specialist, and Instone Real Estate, a nationwide German residential developer.

Construction for the development, located on an approximately 11,000 m2 site on Ottobrunner Straße in southeast Munich, began in May 2026 and is expected to be completed in 2028. The project will feature 145 residential units, predominantly two- to three-bedroom apartments averaging around 70 m2, along with a childcare centre. The location is in an established, family-friendly neighbourhood with excellent public transport, schools, medical facilities, and retail options nearby.

The development prioritises high sustainability standards, aiming for a KfW 55 energy efficiency rating, an A/A+ energy efficiency class, and BREEAM "Very Good" certification. Features like green roofs, district heating connections, and energy-efficient building materials will contribute to a reduced CO₂ footprint.

Stefan Hoenen, head of Commercial Real Estate at Hamburg Commercial Bank, said: “Urban Partners and Instone have extensive expertise in developing complex residential projects and are taking a clear ESG approach to this project as well. We are pleased to support this joint venture with a tailored financing structure.”

Wolfgang Ködel, managing director and head of Germany at Urban Partners, added: “We are very happy to bring modern housing to yet another German urban high-demand area, thereby strengthening urban liveability and addressing real local needs. It showcases that Urban Partners is a European urban investor bringing long-term capital to accelerate the delivery of much-needed homes in German urban areas, and we are pleased to have Hamburg Commercial Bank – a reliable financing partner and experienced project financier – on our side.”

Andreas Zeitler, managing director at Instone Real Estate Development, commented: “With this project, we strengthen our presence in Munich and bring our development expertise into a district that needs modern rental homes and social infrastructure. Our goal is to create liveable and sustainable housing for people in different life situations and with different needs. We would like to thank the HCOB team for the very good cooperation.”