Construction start for NEO office and hotel tower in Munich by CA Immo
CA Immo has received a construction permit from the City of Munich for the NEO office, hotel and residential complex, with 21,000 m² of gross floor space in the Baumkirchen Mitte quarter in Munich’s Berg am Laim district. CA Immo has also acquired the 50% stake in the development project previously held by PATRIZIA, and is now the sole owner. This move is in line with CA Immo’s strategy of reducing minority interests in its portfolio. CA Immo’s total investment in the building complex is 86 million euros.