By way of a forward deal, Cologne-based DERECO, a multi-family office for real estate assets, has acquired a property in Bad Homburg (near Frankfurt) for an associated Dutch single-family office which commissioned DERECO to enlarge its portfolio. Once the real estate is transferred legally, the property will be added to this portfolio managed by DERECO Asset Management that comprises other real estate bought during the past three years.

The property was sold by a project development subsidiary of Schoofs Immobilien GmbH
Frankfurt based in Neu-Isenburg.

By April 2017, a REWE supermarket with a separate beverage department covering approx. 3,000 sqm plus outside parking and 32 upmarket, disabled-accessible flats covering approx. 3,500 sqm plus underground parking will be built on the plot in Kalbacher Strasse, planned by Architect Markus Rathke, Wuppertal. These modern flats will comply with the German energy standard KfW 70 and the 2014 Energy Savings Ordinance (Energieeinsparverordung). The plot has a direct light-railway connection to central Bad Homburg and Frankfurt.

Executed as an asset deal, this transaction totals a volume of approx. EUR 23m.

The buyers obtained legal consultancy fromTaylor Wessing, Berlin and technical consultancy from Drees & Sommer GmbH, Dusseldorf. The selling party was advised by the KUCERA law firm in Darmstadt.

The independent multi-family office DERECO intends to continue acquiring real estate nationwide in 2015. Besides searching in A locations across Germany, DERECO will also continue its search in cities and towns with a population of at least 50,000 with matching key indicators. The company will focus on new developments and property on stock between EUR 10m and EUR 40m. Apart from residential and office properties, DERECO will concentrate its search on retail in premium locations, favouring buildings with mixed types of use and multiple tenants. Real estate managed by individual operators such as hotels, care homes, logistics facilities or other single-tenant properties are not in the focus for the current portfolio.