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