Warburg-HIH Invest has acquired the Kopernikusquartier property development in Heidelberg from the Kreer Group based in Cologne. The lettable area of the new-build office scheme, located on Czernyring, adds up to around 6,900m², which divide into around 5,850m² of office space and around 1,020m² of retail units. The five-storey building also provides 100 underground parking spots. It is projected to be completed by year-end 2023. The transaction took the form of an asset deal and was closed on behalf of an individual fund. It was agreed not to disclose the selling price.
“We managed to secure this attractive investment opportunity through an off-market deal early on. The current trend toward generously-proportioned interiors with modern fit-out as seen in the case of Kopernikusquartier actually gathered momentum during the COVID-19 pandemic, and accommodation of this quality is very much in demand among tenants,” said Hans-Joachim Lehmann, Managing Director of Warburg-HIH Invest. “In addition to the ‘Big Seven’ cities, we also invest in selected growth cities like Heidelberg. The accommodation available on the office market of this campus town is limited, and the fact will be reflected in the rental tone. We assume that this development will continue,” Lehmann went on to say.
The property is situated in the recently established Bahnstadt office location. Bahnstadt represents one of the biggest urban development projects in Germany. “Having acquired property from Warburg-HIH Invest in 2019, we are rather pleased with this latest transaction, during which we swapped roles. Warburg-HIH Invest is a sophisticated office real estate investor, and it is nice to see that our project in Heidelberg’s Bahnstadt district will be in good hands,” said Dr. Florian Kreer, Managing Director of the Kreer Group, as he elaborated on the transaction.