In 2021, Hines acquired LOVT Munich in a joint venture with Union Investment. Hines serves as investment, asset and development manager of the project. The existing structures will be redeveloped to transform the space of c. 96k sqm in Munich's Werksviertel district into a sustainable, modern and mixed-use ensemble including office, gastronomic, cultural and creative spaces that aims to enrich the district, which is known for its creative qualities. A key facet of the regeneration is a comprehensive ESG strategy focused on preserving much of the existing building structure and sustainably refurbish other parts with a focus on reducing both embodied and operational carbon in the design. This includes revitalization of the existing buildings, retaining their heritage features including ceilings of 4.20 meters, sustainable redesign of the attics, an inviting façade design, and large parts of the roof areas and courtyards greened and equipped with amenities. In addition, eco-friendly materials will be used, including wood or a wood-hybrid combination for the new buildings. The sustainability concept aims to ensure the highest technical standards are met creating an attractive and sustainable rental space for future users. Additionally, the building and its technical components are designed in such a way that the concept of CO2-neutral operation is pursued.
The project is pursuing LEED Platinum and WiredScore Platinum certifications.
LOVT Munich is located between Munich's Ostbahnhof and Karl-Preis-Platz in the Werksviertel district.