Barrier-free residential and commercial building// Bad Homburg, Germany
Barrier-free residential and commercial building// Bad Homburg, Germany

New hotels, premium location // Freiburg, Germany
New hotels, premium location // Freiburg, Germany

DERECO acquires share in REVITALIS hotel projects in Freiburg

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DERECO Impuls 1

As a part of its private equity investments, multi-family office DERECO from Cologne has acquired a share in two hotel project developments by REVITALIS Real Estate AG. In turn, REVITALIS shall be responsible for the operational part of this joint venture.

This month REVITALIS and DERECO will start constructing the hotels on a 4,822-sqm plot of a former goods station, Güterbahnhof-Nord in Freiburg. The plan is to develop a Hampton by Hilton hotel with 175 rooms and 46 underground parking spaces and a Super 8 hotel with 205 rooms and 51 underground parking spaces. Both lease agreements were concluded for a period of 25 years. Project volume amounts to approximately EUR 42m. Completion is scheduled for late 2016.

“We are very pleased that this commitment has laid the foundations for our two companies to cooperate in future, too,” says David Noll of DERECO. “We are already exploring additional joint project options.”

DERECO acquires new housing/retail construction in Bad Homburg
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,favouringbuildings 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.