GIEAG Immobilien AG (GIEAG), a nationwide project developer, has sold 118 residential units in Baumholder, Rhineland-Palatinate, with a total living space of approximately 11,500 square meters to Projekt Baumholder GmbH. In addition to 40 terraced houses, there are also 13 multi-family houses with six residential units each on the property, which has a total area of around 26,000 square meters. GIEAG had acquired the properties in April 2017.
“When we acquired the residential properties in Baumholder, we had recorded a high vacancy rate. In some cases, we have extensively refurbished and modernized the properties. Thanks to the great commitment of the GIEAG team, we now have almost full occupancy,” says Philipp Pferschy, CEO of GIEAG Immobilien AG. “Following the successful completion of the project, now is the optimal time for a resale.”
In addition to the adjacent Saar-Hunsrück Nature Park, which offers a variety of opportunities for leisure activities, Baumholder is also well connected in terms of transport via the highway 62, the federal highway 420 and a regional train station. In addition, the numerous shopping facilities in the town center are within walking distance of the properties for sale. Not far from the city are also several large U.S. military sites.
The buyer is Projekt Baumholder GmbH as well as Mr. and Mrs. Nill and Mr. and Mrs. Haberger.
VVO Haberger AG is a family-run Munich-based business consulting company that has been successfully active in financial consulting for over 38 years.
“We combine tradition and innovation and will offer with the project Baumholder GmbH for our customers in the asset class real estate a capital investment, which creates at the same time for the tenants affordable housing.
Here too, as in 2020 with the purchase of 55 semi-detached houses from GIEAG in Erbendorf, we are personally so convinced of the investment that we invest there privately and hold apartments in our own portfolio,” says Steffen Nill, COO VVO Haberger AG.
The marketing was accompanied by notary Markus Göser.
GSK Stockmann acted as legal advisor and ACTIO Revision und Treuhand GmbH as tax advisor for GIEAG Immobilien AG.
GIEAG is a family-run Munich real estate stock corporation. The shares of GIEAG Immobilien AG are traded on the Munich Stock Exchange as well as the Frankfurt Stock Exchange and Xetra. By combining the three asset classes - office, residential, logistics - and the two service areas of development and portfolio management, the company offers stability that is unique in the market. The GIEAG team of experts is a guarantor for innovative and forward-looking concepts.
Over the past 22 years, GIEAG Immobilien AG has developed and optimised a large number of real estate projects with areas of up to 145,000 square metres and an individual investment sum of 15 to 150 million euros. Partnership, transaction security, perseverance and speed are the basis of sustainable value development for GIEAG.