Retail trade property in the pedestrian zone in Stade from Matrix Immobilien GmbH

For its current mandate from a German family office, the independent multi-family office for real estate assets, DERECO, Cologne, has acquired another property in a prime location in Stade (in the metropolitan region of Hamburg) as part of its commission to compile a portfolio. After possession has been transferred, the property will be run by DERECO’s asset management. The seller is a project company that is part of Matrix Immobilien GmbH, Hamburg. The former Hertie building, directly located in the pedestrian zone, stood unused for many years. The existing building will now be demolished and newly constructed by the end of 2016. In future, the property will offer space for approx. 14 reputable retail chain stores on a rental area of approx. 8,600 square metres with its own car park. The most modern retail spaces in the pedestrian zone, which will bring new impetus to the micro-location, will comprise three main storeys. A public multi-storey
car park will be built on the adjacent site and connected with the building and its car park.

The transaction, realised as an asset deal, has a volume of approx. 34 million euros and was already registered as a forward deal in December at a very early stage of the project. The buyer was advised legally by Taylor Wessing, Berlin, and technically by IQ Real Estate GmbH, Düsseldorf, whereas the seller was advised by HEUSSEN Rechtsanwaltsgesellschaft mbH, Munich.

The family office DERECO will continue its nationwide acquisitions in 2015. Besides prime
locations throughout Germany, it will be also be searching in strong index cities from 50,000 inhabitants upwards, focusing both on newly constructed and existing properties from 10 to 40 million euros. Besides residential and office properties, it will be mainly looking for commercial buildings in prime locations. Preference will be given to properties with mixed usage and several tenants. Special properties such as hotels, care homes, logistics or single tenant buildings are not foreseen in the current portfolio.