HanseMerkur Grundvermögen buys second residential project from zederbaum development in Wiesbaden
Hamburg June 13, 2019. HanseMerkur Grundvermögen AG has acquired a project development of around 7,800 square meters with 113 residential units and two underground garages for its open-ended real estate special fund HMG Grundwerte Wohnen PLUS II.
The project development, consisting of 104 classic, high-quality rental apartments and nine fully furnished apartments, is being built on the last remaining vacant lot in the otherwise fully developed and established residential quarter, ‘Artists’ Quarter’ in Wiesbaden. Completion is scheduled for autumn 2021 at the latest.
Marius Piehl, responsible investment manager at HanseMerkur Grundvermögen AG: “As early as 2017, we acquired 185 projected, recently ready-to-move micro-apartments from zederbaum development – in the immediate vicinity of the artists’ district. We are delighted that we have now been able to continue this trusting cooperation with a second deal at this extremely attractive residential location.
“We are very pleased that we were able to win the HanseMerkur again as a project partner. It confirms our work, which includes special conditions in the environment during the planning phase, emphasizes the quality of the exterior and interior structures and has the needs of the future residents in mind, “says Andreas Siegmund, Managing Director of cederbaum.
About HanseMerkur Grundvermögen AG
HanseMerkur Grundvermögen AG bundles all real estate activities of HanseMerkur under one roof. It is responsible for the management of a significant, steadily growing real estate asset and is establishing special real estate funds and other investment vehicles in which other institutional investors can participate in addition to the insurance companies of HanseMerkur. Further information at www.hmg.ag.
About zederbaum development GmbH
Zederbaum development GmbH (cederbaum) is a medium-sized real estate project development company based in Wiesbaden. The focus of their services lies in the redesign as well as in the preservation and revitalization of real estate. cederbaum covers all phases of real estate development: from initialisation to the conception and marketing of a project, to the realization and management of the completed property. The regional focus of the projects is in the Rhine-Main area, especially in Wiesbaden.
For further information please contact:
Head of Corporate Communications
HanseMerkur insurance group
Tel .: + 49-40-4119 1691