Sparkasse Paderborn-Detmold-Höxter acquires Turmcenter Laatzen from VK Immobilien

by   CIJ News iDesk III
2024-07-04   06:46
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Sparkasse Paderborn-Detmold-Höxter has acquired the Turmcenter in Laatzen, Lower Saxony, for its own portfolio. The seller of the local shopping and service centre at Hildesheimer Strasse 47 is the VK Immobilien Group.

The complex, built in 2004 on an 11,109 square metre site, consists of two building sections with a total of 6,569 square metres of rental space. Of this, 3,682 square metres is retail space, 2,073 square metres is a fitness studio, 815 square metres is office and practice space and 119 square metres is catering space. The property is fully let to eleven tenants, the largest of which are the Netto supermarket chain and Fitness Future Laatzen. The Turmcenter also has 138 parking spaces.

The property is part of the Neo Real Estate Fund. Sparkasse Paderborn-Detmold-Höxter holds three other properties and 16 target funds in this fund of funds. The master fund is managed by HIH Invest Real Estate (HIH Invest).

"We are delighted that we have found a buyer who appreciates the good condition and potential of the Turmcenter, given that the investment market remained tight last year," commented Marcus Mayer-Keresztes, authorised signatory and Head of Transactions at VK Immobilien Group, which had held the property for around twenty years.

Alexander Eggert, Managing Director of HIH Invest, explains: "We are delighted that Sparkasse Paderborn-Detmold-Höxter relies on HIH Invest's solutions for its property investments. With our Multi Manager Business division, we offer institutional investors funds of funds, master funds and bundling solutions in combination with a modular range of services. This ranges from the development and review of the investment strategy, portfolio and asset analysis of the entire portfolio, the preparation of comprehensive ESG reporting for funds of funds, the selection, review and subscription of target funds to the representation of interests in investment committees."

Oleg Enns, Asset Manager at Sparkasse Paderborn-Detmold-Höxter, says: "With HIH Invest's modular system, we can obtain support for our own property investments in close coordination with HIH Invest according to our needs, while we remain responsible for managing the properties."

The Turmcenter is conveniently located in Laatzen, right on the border with the state capital Hanover. The Hanover Trade Fair Centre, the S-Bahn station of the same name and an underground station are all within walking distance. The trade fair expressway offers direct access to the extensive motorway network.

The technical due diligence was carried out by Consulting Partners from Hamburg. The law firm Hoffmann Liebs from Düsseldorf was commissioned with the legal due diligence. VK Immobilien was advised on the transaction by Jones Lang LaSalle and Osborne Clarke.

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