DERECO, the multi-family office for real estate assets from Cologne, acquired a new building in a premium location of Höxter in Germany. The purchase was the first transaction for a new portfolio mandate by a Dutch single-family office. As soon as the property is transferred, it will be managed by DERECO’s asset management. In connection with this new purchasing mandate, further acquisitions are being prepared.
The building was sold by a project development entity of Duisburg-based Fokus Development AG. This company plans to start developing another project on the opposite side of Höxter’s market square later this year.

“Am Markt 1” is a building with seven rental units. It was constructed as a comprehensive redevelopment project on the premises of a former Hertie department store and meets today’s building standards. In total, rental floor space in this commercial property amounts to approx. 4,500 sqm. On four levels, the building offers an attractive mix of retail and catering facilities, a gym and a surgery. The main tenant of the fully let property is the Müller chemists’ chain.

Structured as an asset deal, the transaction amounts to approx. €10m in volume.
The buyers received advice on legal matters from Taylor Wessing, Hamburg, and technical consultancy services from Lehmann Consult GmbH & Co. KG, Biberach. The sellers received advice on legal matters from Rotthege Wassermann, Dusseldorf, and technical consultancy services from Assman Beraten + Planen GmbH, Dortmund.
The DERECO multi-family office is planning to acquire additional properties in 2017 focussing on economically strong towns with a population from 50,000. The company is set to target new developments and property on stock between €10m and €40m across Germany. By and large, DERECO favours buildings with mixed types of use and multiple tenants, excluding single-tenant properties which don’t fit in with the company’s acquisition strategy. DERECO has invested in business houses in premium locations and in newly developed neighbourhood centres (new residential facilities with retail space on the ground floor) in good areas outside city centres and in retail parks. DERECO’s current portfolio policy does not cater for office buildings or specialty properties such as hotels, care homes or logistics facilities.


Company profile: Fokus Development AG

Fokus Development AG is headquartered in Duisburg. The company is managed by its own staff and was established in 2013. Its focus is on real estate project developments and the letting business, especially in the field of city-centre retail. Each development evolves around a concept for urban planning and architecture geared towards the specific features of the location where Fokus acts as an owner builder or as a service provider. Fokus concentrates on medium- and long-term investments and sustainable concepts to create and grow the value of real estate for the benefit of investors.

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Press contact, DERECO
Tassu M. Degen
Gustav-Heinemann-Ufer 56
50968 Cologne/Köln, Germany
Phone: +49 (221) 280535-0
Fax: +49 (221) 280535-11
E-mail: mailto:degen@dereco.de

Press contact, Fokus Development AG
Eva Katrin Maier
Mainstraße 49
47051 Duisburg, Germany
Phone: +49-203-73996104
Fax: +49-203-73996100
E-mail: e.k.maier@fokus-development.de