The lettering “Commerzbank” is still emblazoned on the facade of the house at Erwin-von-Kreibig-Straße 4-6 in Schwabing. For around 30 years, the financial institution had its headquarters there, right on the Mittlerer Ring, just before the entrance to the Petueltunnel. For a few months now, the financial institution has been located in the new building “The Mark” on Landsberger Straße in the west of Munich.
Where bankers used to come and go, refugees could soon move in. The property on the corner of Leopoldstrasse has been offered for rent to the city of Munich, as the SZ has confirmed from various sources. Usage is currently being examined by the administration. However, the informants emphasize that we are still in a “very, very early stage” with many question marks. It is therefore still completely unclear whether, when and how many people could find temporary accommodation there.
Due to the increasing number of refugees worldwide, the government of Upper Bavaria has asked the Bavarian capital to create 5,625 beds for refugees, of which 4,500 are for long-term accommodation. A city task force is taking care of this. This team has “already checked around 200 locations, of which only ten to twenty percent are actually implemented,” says Hedwig Thomalla, spokeswoman for the social affairs department.
With regard to Erwin-von Kreibig-Straße, the task force has “an offer from the potential landlord, which is currently being pre-negotiated by the municipal department”. If the test result is positive, the city council must first be referred to the project. If the location and financing decision is positive, the property would then have to be converted. “It could certainly not be used before mid/late 2025.”
The building needs to be modernized
As the Real estate newspaper As first reported, the Frankfurt investment company Headstream Group is acquiring the former Commerzbank headquarters in Schwabing. Until now, the complex with 12,800 square meters of floor space belonged to a real estate fund. The main tenant was Commerzbank until mid-December, and Commerz Real acted as asset manager.
The former bank building is getting old and needs to be revitalized from a sustainability perspective. That’s why it’s hard to rent. According to insiders, the deal with the Headstream Group has not yet been formally concluded and the certification date is still pending. “A sale to Headstream is not certified,” says Gerd Johannsen, press spokesman for Commerz Real AG. The property is therefore still owned by Commerz Real’s CFB Fund 53. It is also unclear what the Headstream Group plans to do with the building. Multiple inquiries from the SZ remained unanswered.
In any case, the head of the Schwabing-Freimann district committee would have nothing against accommodation for refugees on this corner. “We have always welcomed such accommodation in our district if the space was there and suitable for it,” says Patric Wolf (CSU). At this point, he adds, “in the interests of future residents, we just have to ensure noise protection towards the Middle Ring.”