CA Immo has successfully completed the sale of the Zig-Zag office building in Mainz. The sale has been closed in excess of book value as of 30 June 2023.
Keegan Viscius, CEO of CA Immo: “Despite the challenging market conditions, we are pleased to have closed the sale of ZigZag, at a price in excess of last reported book value, thereby concluding a financially successful development by CA Immo. With this sale we continue with our strategic objective to divest sub-scale assets in non-core markets, and to concentrate the portfolio on modern A class office predominantly in Berlin, Munich, and Frankfurt.”
CA Immo completed the development of the ZigZag office building in 2021, the building is located on the northern harbour basin of the Zollhafen Mainz quarter. It comprises a total of around 4,600m2 of rental space on six floors and is almost fully let.
CA Immo was advised on the sale by Noerr Partnerschaftsgesellschaft mbB, Mazars GmbH & Co. KG and Colliers International Deutschland GmbH.
Image provided by CA Immo.