June 2016 I DERECO acquires business property in Herford by way of a forward deal
Cologne-based multi-family office for real estate assets DERECO has purchased a new building
in an A1 location in Herford, Germany, as an addition to a portfolio it has been commissioned to
develop on behalf of a German entrepreneur family. Upon transfer, the property will be managed
by DERECO’s asset management.
The building was sold by a project-developing company established as a joint venture by HLG
Gesellschaft zur Entwicklung von Handelsimmobilien mbH & Co. KG, Münster, and Amandla
International GmbH & Co. KG, Unna. In the past, DERECO has successfully concluded another
forward deal concerning real estate in Detmold with the same project developers.
By 2018, the plan is to create a new retail magnet in Herford’s pedestrian zone. The property is
expected to solve an urban planning issue in central Herford, too, since part of it, a former Kaufhof