Commerz Real and Wertgrund buy first residential complex for Hausinvest in Darmstadt
A planned residential complex in Darmstadt has become the first acquisition for Commerz Real and Wertgrund in their recently launched cooperation. The seller is MAG Projektentwicklungs GmbH, a subsidiary of Mainzer Aufbaugesellschaft. The purchase price is said to have been in the upper double-digit millions. Completion of the buildings is scheduled for 2021. Wertgrund supported the transaction and will take on the leasing and property management. The complex located on Haardtring 3 in Darmstadt-West consists of eight multi-family structures with a total of 194 two to four room apartments with roughly 15,600 sqm living space, as well as 213 underground parking spaces; 49 of the apartments are to be publicly subsidized. The complex is part of what is currently Darmstadt’s largest quarter development, which encompasses 13 new buildings with 684 apartments and micro apartments.
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