Newmark Arranges Sale of Katamaran Office Property in Unterhaching to Munich Developer

Newmark has arranged the sale of the Katamaran office property in Unterhaching, Germany, brokering a transaction between seller Otto Group and Munich-based developer Binnberg Architekturentwicklung, the firm announced Feb. 20, 2026. The deal marks a notable repositioning play in Munich's southern suburbs, where a vacant former corporate headquarters is set to be transformed into a modern, flexible workspace destination.

Property Overview: The Katamaran Office Complex

The Katamaran property is located at Biberger Straße 37 in Unterhaching, a municipality situated in Munich's southern suburban ring. The complex comprises two parallel structures totaling approximately 10,000 square meters — roughly 107,639 square feet — whose architectural form, resembling twin boat hulls, inspired the property's nautical name. The buildings feature 100 percent geothermal heating, a sustainability attribute that distinguishes the asset within the local office market.

The property is currently completely vacant following the departure of SportScheck GmbH, which had used the complex as its corporate headquarters before relocating. The open floor plan and structural flexibility of the buildings are expected to support a range of adaptive reuse configurations.

Newmark Capital Markets Team Leads the Transaction

The Newmark Capital Markets team advising on the transaction was led by Jan Isaakson, Alexander Kandziora, Philip Mrosk, Katharina Hoffmann, and Alexander Blum. The team represented the seller, Otto Group, in the disposition.

Marcus Lütgering, Newmark's Country Head Germany, commented on the transaction's broader significance: "This transaction demonstrates that even vacant properties in peripheral locations offer enormous opportunities for investors, provided that the revitalization strategy is right and creates clear prospects for subsequent leasing."

Newmark (Nasdaq: NMRK) has also assumed leasing responsibilities for the repositioned property, with the firm reporting that initial lease negotiations are already underway. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion and operated from approximately 170 offices with over 8,500 professionals across four continents.

Buyer's Repositioning Strategy

Binnberg Architekturentwicklung, a Munich-based developer with experience in property revitalization, plans to reposition the Katamaran complex through a modern usage concept. The proposed program includes shared offices, flexible work areas, and a roof garden, complemented by ground-floor social infrastructure such as a daycare center. The mixed-use approach reflects a broader trend in German urban renewal, as the Unterhaching submarket — a formerly industrial area — continues its structural transformation into a multi-purpose commercial district.

The property's location in Munich's southern suburbs offers established residential and commercial infrastructure alongside public transport connections, factors that Newmark cited as supportive of the asset's leasing prospects following repositioning.

Market Context: Vacant Office Assets and Repositioning Opportunities

The Katamaran transaction illustrates a growing dynamic in the German office real estate market, where vacant or underutilized properties in suburban locations are attracting developer interest when paired with credible repositioning strategies. The sale of a fully vacant asset to a value-add developer — rather than a stabilized income investor — reflects the current risk appetite and opportunity set in markets like Munich, where core urban office supply remains constrained but suburban vacancies have risen.

No financial terms, including sale price, price per square foot, or capitalization rate, were disclosed in connection with the transaction.

Sources: Newmark Press Release — Newmark Arranges Sale of Katamaran Office Property in Unterhaching