Olaf Steinbusch, Senior Acquisition Manager at Primevest Capital Partners, said: “Our third residential acquisition in Spain is completely in line with our investor’s investment strategy for the country. The development represents a solid investment opportunity on an A location in the capital of the Spanish province of Albacete, thanks to its proximity to the old city centre and other amenities as well as its high technical and sustainability standards.”

The scheme is located on the corner of Calle Alcalde Conangla 3 and Calle Serreriá in the city centre of Albacete, and the historic old town is within walking distance. The ‘Albacenter’ shopping centre is only 300 metres away, alongside shops, bars and restaurants while a primary and secondary school and one of the city’s three universities are also close by. The property has good public transport connections: a bus stop is located directly at the building’s doorstep and the main railway station can be reached within a 10-minute walk. Nearby port cities include Valencia in the east, and Alicante and Cartagena to the southeast. The city’s connection to the Spanish AVE high-speed train means Madrid is accessible within 1.5 hours and Valencia within 50 minutes. Albacete’s three universities have a total of around 10,000 students.

The 127 residential units range in size between 52 m² and 128 m², and are planned over five floors, while an underground car park will offer one parking space for each apartment. Each flat will have its own terrace or balcony and an individual storage room in the basement while four bicycle storage rooms for up to 100 bicycles will be installed on the ground floor. Residents will also have access to an outdoor pool and a gym situated on the ground floor.

The apartments will be equipped with LED lighting, floor heating, air-conditioning and well-dimensioned windows with external sun protection. The property, scheduled for delivery in the summer of 2025, is being built in line with EU requirements and will have an A energy label, the highest possible rating.

Sebastian Moreno, CEO at Grupo Albaluz, added: “Grupo Albaluz aims to allow every citizen in Albacete to enjoy affordable and high-quality housing. This new development will help meet this goal by stimulating Albacete’s rental market and is a great step forward for the city of Albacete and its residents.”

Drees & Sommer acted as technical consultants and CMS Albiñana & Suárez de Lezo as legal advisor for the buyer. Grupo Albaluz was advised by law firm Scasso Abogados.

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specialises in investments in innovative real assets. At Primevest Capital Partners, our vision is to help our clients to provide for their sustainable financial future by investing in the future of our cities in realising sustainable urban living, improving connectivity, and enabling mobility. Our investment philosophy and vision are energised by the current trend of urbanisation and the ability to fulfil the needs of modern metropolitan communities, while enhancing the quality and sustainability of people’s lives.

From our offices in Utrecht, Eindhoven and Berlin, a team of 70 professionals manage €3 billion in real assets across 12 European countries including sector-focused funds, individual institutional mandates and a number of funds targeting private investors as well as family offices following acquisition of the Holland Immo Group. The complementary brands joined forces in 2021 to grow their market position, network and to strengthen each other. Through this combine, we are able to provide a sustainable financial future to a larger and more diverse client base. The group has initiated a total of over 60 funds, of which 32 are currently active. Primevest Capital Partners is part of Primevest Capital Partners Holding B.V.

For more information, please contact:
Primevest Capital Partners
Lisette van der Ham
Head of Marketing & Corporate Communications
T: +31 6 832 005 61
lisette.vanderham@primevestcp.com
www.primevestcp.com

About Grupo Albaluz
Grupo Albaluz is a group of companies active in construction, sales, and real estate development. It was founded by two young entrepreneurs – Dimas de Andrés and Sebastián Moreno – who together have built more than 1,500 homes since 2013, mainly in Albacete city, Valencia, Alicante as well as the province of Catalonia and other areas in Spain. Albaluz plans to start construction and deliver 1,048 homes during 2023-2025.

More information via:  https://www.albaluz.es of info@albaluz.es

This was also visible in the renewed focus on core investments in 2020 and 2021 as well as the high investment activity in the more crisis-resistant considered residential real estate sector of institutional investors, which followed as a reaction to the Corona pandemic and emphasised their security affinity.

However, rising construction prices and interest rates since the beginning of the year 2022 have increased the pressure on a market already characterised by high demand and corresponding yield compression. The core markets in Central and Northern Europe, which were already affected by falling yields before the Corona pandemic, were particularly hit.

The existing tension between risk tolerance and return expectations was resulting in a more visible willingness to adjust the risk profile in the end of 2021 and beginning of 2022. But also influenced by the alignment of the actual and target allocation in real estate following the high investment activity in recent years, many European investors started adopting a cautious stance from the second half of 2022 in anticipation of possible price declines as a result of falling demand in connection with the persistently high interest rate level. The lowered growth forecasts in many countries in the course of 2022 in combination with continued high, albeit declining, inflation and the increasing sustainability requirements of real estate products also tended to increase the preference of European investors for investments in core products again.

You can read the full article here. 

Primevest Capital Partners, an investment and asset manager for institutional investors, acquired the property from AEDAS Homes in early 2022. The property was also developed by AEDAS Homes, a leading national housing development company.

Olaf Steinbusch, Senior Acquisition Manager at Primevest Capital Partners, says: “This first Build-to-Rent project consolidates our investor’s investment strategy in Spain, which is based on acquiring properties in selected cities throughout the country. We are grateful to Enrique Molina Campos (Alba REIM) for sourcing and brokering this opportunity. Besides Spain, Primevest invests in residential projects and assets in Germany, The Netherlands, Denmark, Austria and in the future also in Italy. In addition Primevest invests in parking assets as well in other European countries such as Norway and UK.”

The property at ‘Jardines Hacienda Rosario’, consists of three buildings with 125 residential units sized between 60 m² and 115 m². There are also two commercial units and includes a parking garage with 196 parking spaces on two levels. All apartments have a storeroom, balcony or terrace, a fitted kitchen and built-in cupboards in all bedrooms. The project has been developed in the style of a resort with two swimming pools, six padel-tennis courts, a football field, basketball courts, a children’s playground, a jogging trail of more than one kilometre, a social club with catering services, large gardens and promenades.

The development has BREEAM certification which indicates high levels of sustainability based on features such as solar panels for electricity generation, heat pump air conditioning (without fossil fuels), rainwater and wastewater collectors, state-of the art LED lighting and a clean point for recycling waste, plastic, glass and paper, which will ensure substantial savings in energy and the economy for future residents.

Claudia Gerber, Senior Asset Manager at Primevest Capital Partners highlights: “In the case of Seville, where most of the rented properties are owned by private individuals, this building will provide a new supply, professionally managed and adapted to the rental market, combining many aspects of contemporary, affordable, and sustainable living. There is a high demand for the property due to its design and high quality of the buildings as well as the wide range of possibilities for leisure activities.”

Rental prices start at €600 per month for the 3-bedroom apartments, €700 for the 4-bedroom apartments and €950 for the 5-bedroom apartments, plus service charges. The property management will be handled by MVGM Property Management, one of the leading European property management companies for this type of product. The first tenants will be able to move in at the end of January. The Build-to-Rent project has been named ‘Las Delicias’ in reference to an historic garden in Seville’s city centre and will be marketed under this name.

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specialises in investments in innovative real assets. At Primevest Capital Partners, our vision is to help our clients to provide for their sustainable financial future by investing in the future of our cities in realising sustainable urban living, improving connectivity, and enabling mobility. Our investment philosophy and vision are energised by the current trend of urbanisation and the ability to fulfil the needs of modern metropolitan communities, while enhancing the quality and sustainability of people’s lives.

From our offices in Utrecht, Eindhoven and Berlin, a team of 70 professionals manage €3 billion in real assets across 12 European countries including sector-focused funds, individual institutional mandates and a number of funds targeting private investors as well as family offices following acquisition of the Holland Immo Group. The complementary brands joined forces in 2021 to grow their market position, network and to strengthen each other. Through this, we are able to provide a sustainable financial future to a larger and more diverse client base. The group initiated a total of over 60 funds, of which 32 are currently active. Primevest Capital Partners is part of Primevest Capital Partners Holding B.V.

For more information, please contact:

Primevest Capital Partners
Lisette van der Ham
Head of Marketing & Corporate Communications
T: +31 6 832 005 61
lisette.vanderham@primevestcp.com
www.primevestcp.com

Albacete is the capital of the province by the same name. It is the economic headquarters of the autonomous community Castilla-La Mancha. With its 175,000 inhabitants, the city boasts five major commercial areas in the immediate outskirts for tens of thousands of employees. In addition, Airbus runs a manufacturing and maintenance plant for the Eurocopter and the capacity and staff will most likely be doubled over the next few years. A NATO air force base has stationed some 3,000 soldiers on the outskirts of the city.

A great deal more has been planned, such as major international high-tech companies and mega-players in international logistics. Last, but not least, the impressive project of a puerto seco (dry harbour) as a logistics platform, will be subsidized by the government of Castilla-La Mancha with an investment of EUR 50 million. In three years’ time more than 100,000 grain containers will travel by train from the railway station in Albacete to its destination in Valencia. Albacete’s railway station also accommodates the AVE high-speed train, making it is easy to reach destinations like Madrid in the time that it takes to play a game of football.

Peter Renk, Head of Residential and Country Manager Germany has written an article about the Spanish residential market. Read full article here.

Source picture Albacete: https://rare-gallery.com/thumbs/735901-Castilla-Albacete-Spain-Houses.jpg

The project is located along Gunzelinstraße in Peine and consists of eight buildings with 97 residential units. The apartments are mostly divided into 2 to 3-room apartments, 19 of which are barrier-free, 11 are suitable for wheelchairs, with a total living space measuring approx. 8,000 m². The property includes a total of 128 parking spaces, 68 of which are situated in a basement parking garage. The city centre is 900 metres to the north-east and several supermarkets and schools are located in the vicinity. The building has been constructed to very high sustainability standards in line with the German KfW-55 regulation, a high standard energy building.

Danica Cicmil, Fund & Acquisitions Manager at Primevest Capital Partners said: “This asset was acquired in 2021 and our transaction team and technical asset management team have jointly managed the handover of this asset after its completion on 1 February 2022. The project is currently in the phase of initial letting. This project will offer young families and the elderly alike attractive and affordable accommodations in modern, purpose-built apartments within a 10-minute walking distance from the amenities in Peine’s city-centre.”

The project is located to the north-east of the city centre of Peine and encompasses the former indoor swimming pool area, which was closed in 2015, as well as the adjacent landscape and parking lots. Before construction of the indoor pool, the area had initially been used for agriculture and later as garden land. Peine is a medium-sized town located about 40 kms to the east of Hannover and 25 kms to the west of Braunschweig.

The vendor was Graf Gunzelin UG & Co. KG, a subsidiary of Berlin-based MHMI Immobilien-Verwaltungen GmbH.

About Primevest Capital Partners

Primevest Capital Partners is a pan-European investment boutique that specialises in investments in innovative real assets. At Primevest Capital Partners, our vision is to help our clients to provide for their sustainable financial future by investing in the future of our cities in realising sustainable urban living, improving connectivity, and enabling mobility. Our investment philosophy and vision are energised by the current trend of urbanisation and the ability to fulfil the needs of modern metropolitan communities, while enhancing the quality and sustainability of people’s lives.

From our offices in Utrecht, Eindhoven and Berlin, a team of 70 professionals manage €2.8 billion in assets including sector-focused funds, individual institutional mandates and a number of funds targeting private investors as well as family offices following acquisition of the Holland Immo Group. Primevest Capital Partners is part of Primevest Capital Partners Holding B.V.

For more information, please contact:

Primevest Capital Partners
Lisette van der Ham
Head of Marketing & Corporate Communications
T: +31 6 832 005 61
lisette.vanderham@primevestcp.com
www.primevestcp.com

The project is located on the corner of Calle Vicente Brull and Calle Museros in Valencia. It will comprise two buildings with 90 residential units and a basement parking garage with 58 parking spaces. Both buildings will have several chill-out areas, a swimming pool and children’s playground on the roof deck, as well as storerooms and a bicycle shelter in the basement. In addition, each building will provide space for a gym and co-working. The property will be built for rent (Build-to-Rent) and will be completed by the end of 2024. Construction is set to start in Q3 2022.

Located to the east of Valencia’s city centre, the project is 300 metres from the marina and 800 metres from the beach in the Poblats Maritims district. Aside from being an attractive tourist location, this district has become a hub of technological innovation due to the presence of many start-ups. Two tram lines and several bus lines provide a direct connection to the city centre. In addition, many facilities for daily needs can be found in the immediate vicinity. These include several supermarkets, schools, various museums and leisure centres.

Valencia is located in the eastern part of Spain and is the third largest city in the country after Madrid and Barcelona. The metropolitan region comprises about 1.5 million people, of whom around 800,000 live in the city of Valencia itself. The city of Valencia is home to the University of Valencia and the Polytechnic University of Valencia, two of Spain’s top 10 Universities with over 76,000 students.

The residential buildings will meet modern energy-efficient standards (an A energy rating and BREEAM Very Good) and it will make use of renewable energy sources, such as a photovoltaic installation (solar panels) to generate electricity and a centralised aerothermal system for domestic hot water, state-of-the-art LED lighting in all communal areas and a waste disposal area as a clean point for recycling waste, plastic, glass and paper.

Olaf Steinbusch, Senior Acquisition Manager at Primevest Capital Partners: “We are very pleased that, in partnership with Colliers, we have been able to acquire a second residential property in Spain. This project in Valencia offers a very stable investment opportunity due to the combination of modern high-quality apartments situated at a fantastic location and a good ESG rating. It mainly comprises 1-bedroom apartments to meet the demand of affordable, sustainable and modern rental homes with all kinds of amenities and communal areas. We look forward to expanding our portfolio further with sustainable and affordable homes in the residential market in Spain.”

Earlier this year, Primevest announced its first residential acquisition of €21 million in Seville and marked its entry into the Spanish residential market. Primevest has identified Spain as a market to expand its residential portfolio and will further build a sustainable residential portfolio across Spain in selected cities, such as Alicante, Palma de Mallorca, Bilbao, Cádiz, A Coruña, Granada, Madrid, Malaga, Murcía, Salamanca, Santander, Valencia, Vigo and Zaragoza.

Primevest started to invest in residential real estate in 2007 and has built up a residential portfolio of approx. €1 billion across Europe, focusing on Austria, Denmark, Germany, Spain and the Netherlands. Primevest seeks investments valued between €15 and €60 million, mainly for segregated residential investment accounts for individual clients, primarily pension funds.

Colliers acted as financial and real estate advisor in the transaction, Drees & Sommer as technical consultants and CMS Albiñana & Suárez de Lezo as legal advisor.

About Primevest Capital Partners

Primevest Capital Partners is a pan-European investment boutique that specialises in investments in innovative real assets. At Primevest Capital Partners, our vision is to help our clients to provide for their sustainable financial future by investing in the future of our cities in realising sustainable urban living, improving connectivity, and enabling mobility. Our investment philosophy and vision are energised by the current trend of urbanisation and the ability to fulfil the needs of modern metropolitan communities, while enhancing the quality and sustainability of people’s lives.

From our offices in Utrecht, Eindhoven and  Berlin, a team of 70 professionals manage €2.8 billion in assets including sector-focused funds, individual institutional mandates and a number of funds targeting private investors as well as family offices following acquisition of the Holland Immo Group. Primevest Capital Partners is part of Primevest Capital Partners Holding B.V.

For more information, please contact:

Primevest Capital Partners
Lisette van der Ham
Head of Marketing & Corporate Communications
T: +31 6 832 005 61
lisette.vanderham@primevestcp.com
www.primevestcp.com

The project that Primevest has acquired will comprise 125 residential units with a unit mix of between 2 to 4 bedrooms, and two commercial units spread over 3 buildings. It is located to the south-east of Seville’s city centre and forms part of a new development area in the Palmete neighbourhood. It will also include a garage with 199 parking spaces on two levels and 125 storerooms in the basement. It is part of the largest residential development under construction in Spain: Jardines Hacienda Rosario. The greater development will comprise seven buildings with over 1,000 homes and feature an impressive 37,000 m² of resort-style amenities: two swimming pools, six padel courts, a soccer field, a basketball court, a children’s playground, a running circuit of more than one kilometre, a large social club, and landscaped gardens – all of which to be enjoyed by the future tenants.

Olaf Steinbusch, Senior Acquisition Manager at Primevest Capital Partners: “We have identified Spain as a market to expand our residential assets and will further build on our sustainable portfolio of residential buildings across the country in selected cities for our mandates. Aside from Seville, we also see many attractive investment opportunities for our investors in cities such as Alicante, Palma de Mallorca, Bilbao, Cádiz, A Coruña, Granada, Madrid, Malaga, Murcía, Salamanca, Santander, Valencia, Burgos Vigo and Zaragoza. This project in Seville offers a very stable investment opportunity due to the combination of modern high-quality apartments and a good ESG rating and will be certified by BREEAM. We look forward to expanding our portfolio in the residential market in Spain.”

Peter Renk, Head of Residential at Primevest Capital Partners: “As an investor with a long-term view, we are also interested in ’vivienda protegida’ [sheltered housing] investments and underline our sustainable investment approach by investing exclusively on the basis of equity. Besides acquiring affordable and modern housing, our focus is on ESG-conformity and contemporary floor plans for families.”

Primevest started to invest in residential real estate in 2007 and has built up a residential portfolio of ca. 1 billion euros across Europe, focusing on Austria, Denmark, Germany, Spain and the Netherlands. Primevest seeks investments valued between 15 and 60 million euros, mainly for segregated residential investment accounts for individual clients, primarily pension funds.

Having around 700,000 inhabitants and being the capital of Andalusia, Seville is the fourth largest city in Spain after Madrid, Barcelona and Valencia. Seville’s old town is the largest in Spain and one of the largest historical centres in Europe, visited by approx. 2.5 million tourists every year. The university has over 70,000 students and is one of the largest universities in Spain. Seville forms the economical centre of the region and has a very well developed infrastructure network. Many companies are represented in the city such as Airbus, FASA-Renault, Endesa Generación, the brewery Heineken and pharmaceutical company Bida Farma.

The project site is located in the Palmete neighbourhood of district Cerro-Amate, south-east of Seville’s city centre, which can be reached by public transport in about 30 minutes or by car in just 15 minutes. All basic amenities, such as supermarkets, pharmacies, a hospital, several schools, restaurants and the Sevilla Este shopping centre are located nearby.

The residential buildings will meet modern energy-efficient standards and each block will be equipped with solar panels on the building’s roof for electricity. Heating and cooling takes place via heat pump technology, no fossil fuels are used. The building is connected to a separate water network, so rainwater and waste water are collected separately. All communal areas use state-of-the-art LED lighting. Seville city council collects waste and recyclables separately and all buildings will have areas for sorting waste, plastic, glass and paper.

CMS (LDD), ARCADIS ESPAÑA Design & Consultancy (TDD) and Enrique Molina Campos (Messures) advised Primevest CP on the acquisition. Aedas Homes has been advised by law firm Garruiges.

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specialises in investments in innovative real assets. At Primevest Capital Partners, our vision is to help our clients to provide for their sustainable financial future by investing in the future of our cities in realising sustainable urban living, improving connectivity, and enabling mobility. Our investment philosophy and vision are energised by the current trend of urbanisation and the ability to fulfil the needs of modern metropolitan communities, while enhancing the quality and sustainability of people’s lives.

From our offices in Utrecht, Eindhoven and  Berlin, a team of 70 professionals manage €2.8 billion in assets including sector-focused funds, individual institutional mandates and a number of funds targeting private investors as well as family offices following acquisition of the Holland Immo Group. Primevest Capital Partners is part of Primevest Capital Partners Holding B.V.

For more information, please contact:

Primevest Capital Partners
Lisette van der Ham
Head of Marketing & Corporate Communications
T: +31 6 832 005 61
lisette.vanderham@primevestcp.com
www.primevestcp.com

About AEDAS Homes
Spanish residential developer AEDAS Homes went public in 2017 and celebrated its fifth year in 2021. In that time, the company has put over 10,000 units on the market and has become the benchmark homebuilder in Spain, during a cycle characterised by adherence to rigorous professional standards.

The company has a fully-permitted landbank to build over 17,600 homes in Spain’s major economic centres and key residential markets: Madrid, Catalonia, the East & Balearic Islands, Andalusia, Costa del Sol, and the North.

For more information: https://www.aedashomes.com/en or via e-mail: info@aedashomes.com

AEDAS Homes corporate video: https://www.youtube.com/watch?v=kkyf0TgNmyY

The project will consist of 89 residential units spread over nine buildings and is scheduled for completion in Q2 2024. Ranging in size from approx. 48 m² to 142 m², the apartments will have two to four bedrooms each with a terrace, balcony or loggia. A single-storey basement will include an underground garage with 90 parking spaces, storage rooms, bicycle racks and technical equipment. The complex will be constructed around a high-quality communal courtyard.

Victor Ghalayini, Transaction Manager at Primevest CP: “This project is a great fit for our portfolio thanks to its excellent location on the east side of the city, which is characterised by residential properties, the newly designed Steingrube Park and lively neighbourhoods. The property will appeal to a wide range of households, including singles and couples as well as families. Demand is particularly strong from the latter due to a good selection of childcare facilities and schools nearby.”

The Elisabethgarten is being built to the energy-efficient KfW-55 EE standard and forms part of the new Ostend city district, located on the eastern outskirts of Hildesheim between the RB79/RE10 railway line. The new neighbourhood comprising some 650 apartments, is being built on the former site of the Mackensen barracks.

Hildesheim city centre is easily accessible, and the location is well connected to the surrounding area via the B1 and B6 and the nearby A7 autobahn. Ostend will also have a direct connection to the public transport network through a dedicated bus stop. Several day care centres, primary and high schools are situated within approx. 1.5 km of the property and a new square in the immediate vicinity will offer retail and other services along Senator-Braun-Allee.

Hildesheim has a population of over 100,000 and is located approx. 30 km southeast of Hanover, the capital of the German state of Lower Saxony, with more than 500,000 inhabitants. Hildesheim is well connected to the rest of Germany, and its main railway station is one of the ICE stops on the Kassel-Berlin line while the A7 Flensburg-Würzburg motorway runs nearby.

Catella Property Consultants GmbH advised the transaction on behalf of the seller.

Diane Becker, CEO at Catella Property Consultants: “Primevest Capital Partners are the perfect partner for the Elisabethgarten project which will make a significant contribution to the regeneration of the Ostend district.”

CMS Hasche Sigle (LDD) and Drees & Sommer SE (TDD) advised Primevest CP on the acquisition.

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specialises in investments in innovative real assets. At Primevest Capital Partners, our vision is to help our clients to provide for their sustainable financial future by investing in the future of our cities in realising sustainable urban living, improving connectivity, and enabling mobility. Our investment philosophy and vision are energised by the current trend of urbanisation and the ability to fulfil the needs of modern metropolitan communities, while enhancing the quality and sustainability of people’s lives.

From our offices in Utrecht, Eindhoven and  Berlin, a team of 70 professionals manage €2.8 billion in assets including sector-focused funds, individual institutional mandates and a number of funds targeting private investors as well as family offices following acquisition of Holland Immo Group. Primevest Capital Partners is part of the Primevest Capital Partners Holding B.V.

For more information, please contact:

Primevest Capital Partners
Lisette van der Ham
Head of Marketing & Corporate Communications
T: +31 6 832 005 61
lisette.vanderham@primevestcp.com
www.primevestcp.com

The complex of approximately 7,600 m² consists of 48 privately financed and 29 subsidised apartments and will be built within a newly emerging residential area. The modern designed and light apartments range between approximately 45 m² to 112 m², each with its own terrace or balcony, and will have two to five rooms to accommodate up to five people. The buildings will have their own underground car park with a total of 64 parking spaces.

The project is located in a green and quiet residential area of Dortmund. Shops and  numerous medical practices are only 500 meters away, with several kindergartens and school facilities within a kilometre for different age groups. Local public transport connections are very good, with a bus stop nearby and the metro and S-Bahn overground stations also within walking distance. The close proximity to the nearby A 45 motorway also offers a fast connection to the regional and national road network.

Victor Ghalayini, Acquisition Manager at Primevest CP, said: “The demand for subsidised housing in Dortmund is very high, with limited supply available, so we are pleased to be part of the solution to the city’s housing problem. Since 2013, the population of Dortmund has grown by around 3.5%, due largely to the number of young students and professionals who have moved to the city to work or study. It is difficult for this group of 18 to 30-year olds to find modern and affordable housing and therefore our focus in this project is on two to three-room apartments, which are the most sought after.”

The residential buildings will be built to the energy-efficient KfW (BEG) 55 EE standard to attain a class A energy certification. The underfloor heating of the apartments will be partly supplied from renewable energy sources .

The city of Dortmund is located in the centre of the state of North Rhine-Westphalia on the northeastern edge of the Ruhr region. Dortmund has approx. 600,000 inhabitants and is the largest city in the Ruhr and an important economic and commerce centre and transportation hub. The city is a favoured location for mid-sized business in sectors such as logistics, IT, science, healthcare, biomedical, micro and nanotechnology. Dortmund’s Technical University has around 35,000 students.

REIUS Rechtsanwälte (LDD), Management & Advisory GmbH (TDD) and DGI Real Estate were commissioned for the due diligence (DD) on the project.

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specialises in investments in innovative real assets. At Primevest Capital Partners, our vision is to help our clients to provide for their sustainable financial future through investing in the future of our cities by delivering sustainable urban living, improving connectivity, and enabling mobility. Our investment philosophy and vision are energised by the current trend of urbanisation and the ability to fulfil the modern needs of metropolitan communities, while enhancing the quality and sustainability of people’s lives.

From our offices in Utrecht, Eindhoven and Berlin, a team of 70 professionals manage €2.8 billion of assets including six sector-focused funds, three individual institutional mandates and a portfolio of approximately €0.9 billion in investments targeting private and institutional investors as well as family offices following the acquisition of Holland Immo Group. Primevest Capital Partners is part of the Primevest Capital Partners Holding B.V.

For more information, please contact:
Primevest Capital Partners
Lisette van der Ham
Head of Marketing & Corporate Communications
T: +31 6 832 005 61
lisette.vanderham@primevestcp.com
www.primevestcp.com

The 4,500 sqm complex, formerly occupied by Sparda-Bank Südwest, is located on the corner of the Beethovenstrasse and Sulzbachstrasse in the heart of the inner-city district of St Johann. It comprises three historic office buildings dating from 1909/1910 which are being converted into a residential complex with commercial units on the ground floor. The first floor totalling ca. 650 sqm is already rented to a physiotherapy practice. The transformation will be carried out in strict accordance with the municipality’s regulations for the preservation of historic monuments.

Danica Cicmil, Fund & Acquisition Manager at Primevest CP, said: “Primevest Capital Partners sees great potential in the city of Saarbrücken due to its geographic location, well-developed education sector and the strength of its economy which make this development a compelling investment proposition. It is also rewarding to be involved in the restoration of these historic buildings and bringing them back to life while providing much needed modern and affordable accommodation for families and young people.”

Upon completion the complex will provide 78 residential units across five floors and up to three commercial units on ground level. The apartments range in size from 22 to 111 sqm, with an average of 47 sqm. In addition, there will be 26 car parking spaces, some with EV charging points, and 167 bicycle parking spaces together with a communal laundry, and storage space totalling 260 sqm in the basement. After the renovation, the residential building will meet the energy requirements of an ‘energy-efficient monumental house’.

Saarbrücken is the capital of the federal state of Saarland and forms its economic, political and cultural centre. It is part of the QuattroPole city network comprising Luxembourg, Metz, and Trier, and has the largest population and biggest economic and cultural centres of the four cities. Saarbrücken itself has 330,000 residents while the surrounding region has a population of more than 1.2 million. The city benefits from very good motorway connections across Europe and the highspeed ICE Frankfurt-Saarbrücken-Paris railway line.

Saarbrücken is also an important science and research location thanks to the presence of a large number of scientific institutes and research facilities. In addition to six universities with over 20,000 students, the city also benefits from cooperation with nearby French universities and around one third of its workforce is employed in the science sector. The city is also home to a number of regional business/research alliances. For example, automotive parts manufacturer ZF Friedrichshafen AG opened the “ZF AI Center” in Saarbrücken university’s Scheer Tower in a strategic partnership with Helmholtz Center for Information Security (CISPA) to conduct research on artificial intelligence and cybersecurity in the automotive industry.

Primevest Capital Partners was advised by brokerage firm Raber Immobilienberatung GmbH. Legal due diligence was carried out by Deloitte Legal Rechtsanwaltgesellschaft GmbH and technical due diligence by DGI Real Estate Management & Advisory GmbH.

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specialises in investments in innovative real assets. At Primevest Capital Partners, our vision is to help our clients to provide for their sustainable financial future through investing in the future of our cities by delivering sustainable urban living, improving connectivity, and enabling mobility. Our investment philosophy and vision are energised by the current trend of urbanisation and the ability to fulfil the modern needs of metropolitan communities, while enhancing the quality and sustainability of people’s lives.

From our offices in Utrecht, Eindhoven and  Berlin, a team of 70 professionals manage €2.8 billion of assets including six sector-focused funds, three individual institutional mandates and a portfolio of approximately €0.9 billion in investments targeting private and institutional investors as well as family offices following the acquisition of Holland Immo Group. Primevest Capital Partners is part of the Primevest Capital Partners Holding B.V.

For more information, please contact:

Primevest Capital Partners
Lisette van der Ham
Head of Marketing & Corporate Communications
T: +31 6 832 005 61
lisette.vanderham@primevestcp.com
www.primevestcp.com