08-2019TM property purchases a housing complex with 48 units – Seil & Co. advises

The transaction consultancy Seil & Co. Investment based in Wiesbaden, Germany, recently advised the Limburg-based TM Property Group on the acquisition of a housing complex with 48 units and 60 parking spaces.

The transaction covered a housing complex that was built in 1975 and contains eight floors on a plot covering around 3,170m2. The property is located in Georg-Rost-Strasse in the town of Porta Westfalica in the district of Minden-Lübbecke. It offers excellent connections to Hanover, which is located around 55 kilometres away, and to Bielefeld, which is only approximately 40 kilometres away in the opposite direction.

The housing complex offers a lettable area of 2,900m2 square metres and has a full-size cellar. The property was built as a solid construction in its year of construction. Its structural components and general building fabric are in good condition. It does, however, have a visible maintenance backlog. Various work has already been undertaken in the stairwells by the previous owner. Some of the windows and the lighting system have already been modernised.

TM Property will sustainably develop the housing complex and integrate it into the property portfolio of the corporate group. The company, which has offices in Wiesbaden and Limburg, is currently examining further portfolio investments in Bremen, Berlin, Dresden, in its local Rhine-Main region and right down to the borders of the city of Munich. According to the company, the core business activities of which are property conversion (division) and property developer measures, it aims to build a comprehensive and solvent property portfolio by the end of the year. The company has therefore turned to Seil & Co. Investment for exclusive consulting services that will help it to achieve this aim.

Wolfgang Maassen from Berlin and Paul & Partner Real Estate from Wiesbaden acted as brokers in this transaction. The private vendor and TM Property have agreed not to disclose the exact purchase price.