Quilvest Capital Partners has teamed up with Kintyre to acquire the ‘Seemaxx’ urban precinct in Radolfzell, Bade-Wurttemberg, in Germany, close to the borders with Austria and Switzerland. Located in central Radolfzell, overlooking the Bodensee (Lake Constance), the asset was purchased from H Sat, the Swiss family office. The property totals 35,000m² of commercial space, including the Seemaxx factory outlet centre, logistics and warehousing units, and the Kesselhaus office building. The transaction involved the acquisition of Hesta Beteiligungs-GmbH, with formal completion due before year-end. The purchase price was not disclosed.
Patrick Laroche, CIO for Europe and Asia at Quilvest Capital Partners, said: “We view this property as very attractive since it offers a mix of day-one, diversified sources of cash-flows, combined with various areas of improvement, notably for the Seemaxx factory outlet centre, located within an affluent catchment area. Thus, it suits well the value-add approach we seek to replicate across several sectors in European markets.”
Adam Pearce, Managing Partner of Kintyre, said: “As an investment product, Kintyre has a very positive view on well-located, urban, mixed-use real estate. This transaction ticks many boxes for us and provides access to a stable but value accretive income stream.”
