11-2019TM property purchases a housing complex in the Rhine-Main region – Seil & Co. advises

At the heart of the German town of Hattersheim, between Frankfurt and Wiesbaden, the TM Property Group from Limburg, advised by Seil & Co. Investment from Wiesbaden, has acquired a housing complex containing 42 flats and 47 car parking spaces in an off-market transaction.

The complex was built on a plot covering around 1,540m2 in 1971 and has a rentable area of approx. 1,470m2, mostly containing small-sized flats. The property was maintained continuously in the past and attractively revitalised at the end of the 1990s. Its extremely charming compact flats and its central location and connections in all directions, for example to Frankfurt or Wiesbaden, as well as its proximity to Frankfurt International Airport, offer sustainable rent increase potential and guarantee consistently positive and profitable lettability.

The vendor is a company from the Rhine-Main region and the buyer is a project company of the TM Property Group. Seil & Co. Investment managed the exclusive acquisition process and has been contracted to handle asset management by the buyer. The parties have agreed not to disclose the purchase price. The handover will take place in March 2020.

Alongside its acquisitions further afield, namely in Berlin, Bielefeld and Stuttgart, TM Property has therefore now welcomed a suitable addition to its project portfolio in its local Rhine-Main region. In the Rhine-Main region alone, the company is currently developing both new building and portfolio projects in Wiesbaden, Bad Kreuznach, Erzhausen near Darmstadt and Oppenheim near Mainz. It is also planning further acquisitions in excellent locations this year.

The exclusive consulting contract with Seil & Co. Investment as the strategy consultant and asset manager was already renewed for the year 2020 ahead of schedule in November.