Industria Wohnen Buys into Development Property in the City of Mainz
Former job center site on Rodelberg Hill chosen as development site for new residential area featuring 205 living units on the city outskirts
Local real estate investment company INDUSTRIA WOHNEN recently bought into development property as part of an asset deal in the city of Mainz. In total, the company has invested roughly 92 mil. Euros ($ 108,706,000). Situated in the southern part of the Mainz suburb of Oberstadt, the development comprises a new residential area offering an exceptional view of the surrounding landscape as well as excellent regional accessibility. The property site was sold by a conglomeration of another local real estate company, namely Ingelheimer J. Molitor Immobilien GmbH, and emag GmbH, a joint enterprise of Mainzer Aufbaugesellschaft mbH (Mainz Development Association) as well as EPPLE Holding GmbH, based out of Heidelberg. The purchaser of the site is “Wohnen Deutschland VII”, a special alternative investment fund managed by INDUSTRIA WOHNEN.
In the process of the acquisition, an expert team dispatched by corporate law firm HEUSSEN and helmed by law firm Partner Christian Weinheimer (real estate law, Munich) provided Industria Wohnen with comprehensive legal assistance. Members of the expert team further included Michael Wichert (Partner, real estate law, Berlin) as well as Rupert Klar (Partner, tax), Franziska Amtstätter (Senior Assoc., real estate law) and Franziska Reuber (Senior Assoc., tax), all from the firm’s Munich Office.