Mannheim: Consus sells hotel and office project “No. 1”
Consus Real Estate has sold the office and hotel building “No. 1” currently under construction in Mannheim’s Lindenhof district in a forward sale for €100mn. According to the company, the end investor is a well-known capital management company from Munich. No further information was provided. The 20,000 sqm project was started by Gerchgroup and later went to former joint venture partner SSN, who in turn was taken over by Consus at the end of last year. The project will be transferred to the buyer after completion, no later than the spring of 2020. It is currently 75 % leased, anchor tenants are the auditing firm EY and GS Star with a Holiday Inn hotel.
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