02-2019TM Property acquires portfolio properties near Darmstadt and Mainz

After successfully completing projects in Frankfurt, Wiesbaden, and Limburg in the final quarter of 2018, the newly founded TM Property Group based in Wiesbaden and Limburg has now already purchased further properties in the Rhine-Main region at the start of the new year.

One of these portfolio properties is a grand listed building located in the Pfaugasse in the town of Oppenheim near Mainz, which currently offers a living area of approx. 800m2 and garage parking spaces. The property is situated in the charming town center. Plans are in place for it to be immediately modernized in keeping with its style and subsequently transferred to the privatization department of the new real estate company so that the flats can be sold to owner-occupiers and investors. The core elements of the property will be repaired and technically upgraded. Furthermore, the conversion of the building’s impressive roof structure is currently being reviewed with the monument protection authorities.

The company has also acquired a multiple dwelling unit dating back to 1965 in the village of Erzhausen near Darmstadt with a total area of around 600m2. The building is already undergoing extremely comprehensive modernisation work and being completely refurbished. Investors have already reserved approx. 60% of the flats in the building. The vendor of the property was a project/real estate company from Wiesbaden, which is being taken over by TM Property. In the case of both properties, the vendor was a nationally operating German real estate company.

In Wiesbaden, projects such as “Yorck14”, “Schönberg2931” and “Nettelbeck21” have been successfully completed or are currently in the final stages of their respective developments. In Limburg and Frankfurt, further projects have been successfully realised and completed in parallel.

The volume currently being developed and acquired by the company therefore covers a total sellable living area of approx. 10,000m2 distributed among projects in locations from northern Germany through to eastern Germany and right across to the company’s local Rhine-Main region. These projects involve an additional total of approx. 110 units. The company plans to privatise around 150–250 flats in the 2019/2020 business year while adding core properties to its expanding portfolio.

The company plans to use expertise to progress its growth by actively expanding its holding, including the involvement of external consultants. In January of this year, for example, the experienced consultant Georg Seil was contracted to advise the corporate group.

Throughout his career, Georg Seil has worked in a multitude of high-ranking positions. He is a member of a number of highly selective teams of consultants, advisory committees and supervisory boards, including those in the real estate industry. One of Seil’s positions at the start of his career was a post as a representative of the Landesbank Rheinland-Pfalz in London, in which he was responsible for establishing the bank’s institutional securities business. Before this, Seil was the Head of Investment Consulting and Asset Management at the bank. He then went on to work in the field of portfolio management at the dresdnerbank investment management dbi before becoming the Founding Director of the asset management company Metzler Trust Vermögensverwaltung GmbH. Before becoming self-employed, he was a member of the Extended Management Board of the private banking establishment Hardy & Co. Privatbankiers. When he founded his GSC companies in 1997, he became one of the first consultants on the German market and positioned himself directly behind international consultants. The companies mainly focused on strategic asset allocation consulting and consulting regard tactical issues. Given its track record over time, involving figures in the double-digit million range, GSC was predestined to provide such consulting services. TM Property has contracted Georg Seil to predominantly provide advice and support for the establishment of a nationally operating and successful corporate structure and to contribute his expertise from decades of experience in the financial industry to the company’s business activities.