CA Immo and UBM Sell "Kaufmannshof" Residential and Office Project in Mainz Customs Harbour for Nearly € 50 Million
Mainz, 09 June 2022 --- CA Immo Deutschland GmbH and UBM Development Deutschland GmbH have sold the “Kaufmannshof“ joint venture project in Mainz customs harbour for approximately €48.5m to a German family office. Construction on the “Kaufmannshof“ project, which is located on the Harbour Island V site, started in the second quarter of 2020 and completion is scheduled for the third quarter of 2022.
The ensemble reflects the historical harbour architecture through its diverse elements and, at the same time, creates an inspiring environment for contemporary living and working forms. In total, 45 apartments, five townhouses and roughly 3,277 m² of commercial space will be developed here.
Christof Altendorfer, Managing Director of CA Immo Deutschland and Head of Investment Management: “As one of the quarter developers for the customs harbour, we are very pleased to see the positive acceptance of our concept for a lively and balanced usage mix by residents, office tenants and investors. We plan to invest the sale proceeds in ESG-compatible, prime office development projects, renovation projects or standing assets in our core markets.“
“This project shows the strong market acceptance of our green. smart. and more. strategy“, emphasised Werner Huber, Managing Director of UBM Development Deutschland“, “and it is no coincidence that 90% of the outstanding commercial areas with their focus on sustainability, building intelligence and aesthetics are already rented.“
This quarter development project on the former Mainz customs harbour is not uncharted territory for either UBM or CA Immo. UBM has already realised and sold the “Waterkant“ residential project and the “Super 8 Hotel“. The fully rented “ZigZag“ office project which was realised by CA Immo in 2021, also underscores the successful establishment of the customs harbour location. In addition to the “Kaufmannshof“, the “Flösserhof“ is also under realisation by a CA Immo / UBM partnership.
In the first quarter of 2022, UBM Development acquired four additional construction sites in the Mainz customs harbour for over 42,000 m² of gross floor space in total. Plans call for the construction of approximately 75% residential and 25% commercial/office space at this waterfront location.
An urban mixture of individually designable townhouses and condominiums for nearly 2,500 residents and modern office properties for roughly 4,000 jobs are under development around the 80,000 m² harbour basin. Gastronomy, hotels, day care centres, shopping and attractive recreational offerings make the Mainz customs harbour a sought-after address. CA Immo Deutschland GmbH is serving as the quarter developer together with Stadtwerke Mainz AG
Images of Kaufmannshof can be downloaded from the image archive in the Press section at www.caimmo.com using the keyword “Kaufmannshof”, or by following this link.