LBBW Real Estate buys construction sites "Hafeninsel I" and "Marina" in Mainz Zollhafen Quarter

Vienna, 14.01.2021 - CA Immo and Mainzer Stadtwerke AG, as joint venture partners of Zollhafen Mainz GmbH Co. KG, have notarised the sale of the construction sites "Hafeninsel I" and "Marina" to LBBW Immobilien Development GmbH on 22 December 2020. The sales price (50% share) is significantly higher than the last CA Immo book value (according to IAS 2) as of the third quarter of 2020. The closing of the transaction is scheduled for the first quarter of 2021.

On the sold plots in the immediate vicinity of the marina of the new Zollhafen Mainz quarter, 13,250 m² of floor space for residential and commercial use can be realised.

Olaf Heinrich and Matthias Winkelhardt, both managing directors of Zollhafen Mainz GmbH Co. KG, are very pleased about the sale: "With LBBW Immobilien Development, we have been able to gain an experienced partner who is particularly committed to the Zollhafen quarter and stands for high construction quality. With the development of the harbour island and the marina construction field directly at the marina, an important development for the entire quarter is being completed, which will also realise the necessary infrastructure for the marina."

BNP Paribas Real Estate acted as advisor in the transaction.

On an area of around 30 hectares, the new Zollhafen Mainz quarter will be an urban, mixed-use quarter with living space for around 2,500 people and around 4,000 jobs by 2025. The concept will be complemented by retail for local supply as well as social, cultural and gastronomic offerings. The joint venture partners CA Immobilien Deutschland GmbH and Mainzer Stadtwerke are responsible for the overall development of the quarter. CA Immo is also realising individual projects on site, such as the ZigZag office building (completion in 2021) and - in a joint venture with UBM - the Kaufmannshof residential and office building (construction began in summer 2020).