Wohninvest Group continues growth strategy with two property sales worth roughly EUR 30 million
– Höllturmpassage in Radolfzell sold after extensive revitalization measures
– Office building in Neu-Isenburg sold
Fellbach, 13 March 2019 – The Wohninvest Group (“Wohninvest”), specialist for modern office real estate, continues to successfully implement its strategy of creating added value through tailor-made concepts. Wohninvest sold both the Höllturmpassage in Radolfzell and a modern office building in Neu-Isenburg from its own portfolio at a total selling price of roughly EUR 30 million. The purchaser of both properties is thallos AG, based in Tübingen and Stuttgart.
“The transactions we have carried out illustrate the potential of our established business model. Our excellent knowledge of the market enables us to sell trading properties at attractive conditions after a short holding period, as well as to identify the potential in properties and to raise them to a new level through targeted value-enhancing measures in the area of value add/revitalization”, says Bernd Fickler, CEO of Wohninvest Holding GmbH.
The Höllturmpassage is located in the heart of the old town of Radolfzell in the immediate vicinity of Lake Constance. Covering an area of roughly 9,200 square meters, the passage includes office, retail, gastronomy and residential space as well as a hotel with 31 rooms. After the acquisition in 2016, Wohninvest carried out extensive revitalization measures, which significantly increased the attractiveness of the property. Investments in the façade, modernization of the underground car park and reallocation of various spaces in conjunction with dedicated property management led to a reduction in the vacancy rate to below 3% and thus to a significant increase in the value of the property. The drugstore chain Müller, Höllsport and the Hotel am Stadtgarten are the anchor tenants of the Höllturmpassage.
The modern office building in Neu-Isenburg is located in logistically attractive proximity to Frankfurt Airport. The property, which was acquired for trading in the summer of 2018, has an area of roughly 8,700 square meters. The anchor tenants of the property, which is currently 87% leased, are Siemens AG, Max Bögl Baugruppe and Emprio GmbH. The transaction took place as part of a share deal.
The Wohninvest Group currently has a portfolio of inventory properties worth more than EUR 500 million throughout Germany.
About Wohninvest Group
The Wohninvest Group, headquartered in Fellbach near Stuttgart, specializes in modern office real estate in Germany. Founded in 2005, the company is active in the areas of trading and value add/revitalization. With its own property and asset management as well as fast and flexible decisions, Wohninvest realizes the potential of the acquired properties and generates attractive increases in value.
Contact
Michele Vulcano
WI Immobilienmanagement GmbH
Lise-Meitner-Straße 4
70736 Fellbach
T: 0711 93302-218
MVu@wohninvest.de
Kirchhoff Consult AG
Michael Werneke, Alexander Neblung
Borselstrasse 20
22765 Hamburg
T: 040 609 186 34
WI@kirchhoff.de
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