In 2020, Hines acquired aer, formerly Fritz9, two office buildings in Munich, on behalf of the Hines European Value Fund II. The assets comprise more than 938,000 square feet (87,100 square meters) and are located next to Einkaufs-Center Neuperlach, Munich’s largest shopping mall, and exceptional public transport links.
aer will undergo a comprehensive refurbishment transforming into a high-quality office-led, mixed-use scheme that will include a residential component. Hines will serve as asset manager and development manager.