Trei Real Estate GmbH (“Trei”), a property developer and property asset holder for residential and retail real estate, just acquired the development sites “Hafeninsel II” and “Hafeninsel III” at the new “Zollhafen Mainz” urban quarter development. Trei is planning to raise around 150 rental apartments and condominiums here. The two development sites add up to a total plot area of 11,500 square metres. Here, in a first-line waterfront location—on the grounds of an inland port closed in 2013—a new urban quarter has been under development since 2010 and is expected to be completed by 2025.
The acquisition was made possible because Trei carried the day in a structured multi-step competitive bidding process. The property was sold by the partnership Zollhafen Mainz GmbH & Co. KG, a joint venture of CA Immo Deutschland GmbH and Mainzer Stadtwerke AG. The seller is responsible for the development of the new urban quarter Zollhafen Mainz. Overall, around 1,400 apartments are to be created in the quarter.
Pepijn Morshuis, CEO of Trei Real Estate, commented: “Zollhafen Mainz is an attractive neighbourhood development. Aside from the waterfront location right on the bank of the Rhine, the site benefits from its proximity to the inner city of Mainz. I’m very glad that Trei received the contract.” The two development sites Trei acquired also occupy a first-line waterfront location. “The architectural design competition is still ongoing at this time. Once the planning stage is completed, we will present our concept design in more detail,” as Morshuis elaborated.
Commenting on Trei’s project, Morshuis added: “We are planning to raise around 150 apartments in Mainz. We will rent out one set of apartments and retain them in our portfolio long-term while selling the other set as condominiums. We rate the housing market here in the state capital of Rhineland Palatinate as permanently attractive. Depending on the forecast, the population of Mainz is expected to rise from 220,000 today to maximally 227,000 by 2030. Another factor that comes into play is the university, because it keeps bringing young new residents to Mainz.”
Matthias Winkelhardt, Head of CA Immo Frankfurt am Main and Business Director of Zollhafen Mainz GmbH & Co. KG, is pleased that “with Trei, the neighbourhood development gained an experienced partner for just such inner-city residential locations. Since CA Immo is developing the adjacent development sites Hafeninsel IV and V together with UBM, we look forward to the joint development of these attractive residential development sites which will be surrounded by water-filled canals.”