Merkur Development Holding, acting in a joint venture with Ballwanz, has sold a housing project in Mainz to a pension fund for over €27m. The development, which was completed in 2017, is situated at 'Im Münchfeld' 1-5 and comprises 78 residential units totalling c.7,500 m² of accommodation. The apartments, which have floor areas ranging between 60 and 120 m², are already almost fully let.
Harro Hellwege, Managing Director of Merkur: "Completion on schedule, with a construction period of only 17 months, and handover to the investor once again demonstrates that MERKUR is a reliable and competent partner for the development and realisation of large-scale projects."
Volker Geenen, Managing Partner of Ballwanz, adds: "To be able to hand over a virtually fully let the property to the investor is a major success. Our collaboration with Merkur, from the acquisition to the sale of the completed project, was distinguished by efficiency and mutual understanding."