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Hamburg, 26 July 2022 – HIH Invest Real Estate (“HIH Invest”) continues to enlarge its residential portfolio, and just acquired another residential development on behalf of its “Deutschland Wohnen Invest” fund: a new building recently completed and centrally located in Rottweil, a city in Baden-Württemberg. On 20 July 2022, its completion was celebrated together with stakeholders and representatives of city hall, one of the agenda items being a tour of the mixed residential/retail building. Attendees included Frank Dörflinger and Evi Wilk-Streibich of property developer ACTIV-IMMOBILIEN, Rottweil’s head mayor Ralf Bross and mayor Dr. Christian Ruf, as well as Carolin Kratzin of HIH Real Estate. The property provides a gross lettable area of 2,030 sqm, divided into two 28 residential units. As early as the end of April, a drugstore of the Drogerie Müller brand already moved into the commercial unit on the ground floor, which extends over 1,860 square metres in effective floor area. The lease agreement for the commercial unit was signed for a lengthy term of twelve years, and includes 66 underground parking spots as well as six surface and two visitor parking spaces. The building’s residential tenants have the use of 29 underground parking spots.
Residential units in the property include 2-bedroom apartments with an average foot print of 60 square metres, as well as 3- to 4-bedroom units with an average dwelling floor area of 72 to 100 square metres. Among their targeted clientele are single-person households and families who are looking for a high-quality new accommodation built to modern specifications. Incoming tenants will benefit from the central location, which lies within walking distance of the historic town centre of Rottweil, and from the great infrastructure of the surrounding area, including day nurseries, schools and grocery retailers, a wide variety of green spaces and park areas, as well convenient public transportation access.
Nadine Robra, Team Leader Transaction Management Germany at HIH Invest, commented on the acquisition: “Both the city and the district of Rottweil currently show a short supply in as-new rental apartments, and pent-up demand has built up to a considerable volume as a result. In combination with the above-average purchasing power of the region, this implies great letting opportunities for Rottweil.
The economic structure of Rottweil district is dominated by the manufacturing industry and by the services sector. The majority of employers in the region are small and medium-sized enterprises.
Being the district capital, Rottweil has excellent access to the regional road network, including access to the A81 motorway (Stuttgart-Konstanz) and to a number of federal routes in the region. The nearest airport is the one in Stuttgart, a commute of 60 minutes away. In addition, the district capital is well integrated into the regional railway network.
“In recent years, the district of Rottweil has registered a steady upward growth in population, and the trend is set to continue through 2030. One of the driving factors is the need for options to work from home in the wake of the COVID-19 pandemic, which has stimulated the demand for housing in rural areas close to the outdoors and with convenient transport links to nearby cities,” reported Tom Kircher, fund manager at HIH Invest.
Ansgar Pape, member of the Investment Committee Residential at Warburg-HIH Invest, added: “The family-friendly housing estate created in Rottweil lives up to the high sustainability standards we set: market-consistent, generously proportioned apartments with convenient transportation access. The incoming tenants will therefore benefit from short distances and — at least as important — from a socially responsible rent level.”
The legal and tax due diligences were carried out by the law firm of Heussen Rechtsanwaltsgesellschaft mbH in Munich. The technical due diligence was performed by Ernst & Young Real Estate GmbH based in Stuttgart. Arcadis Germany GmbH from Darmstadt took care of the environmental due diligence. iib Institut Innovatives Bauen Consult GmbH provided advice to the buyer side on location.
“Both the city and the district of Rottweil currently show a short supply in as-new rental apartments, and pent-up demand has built up to a considerable volume as a result. In combination with the above-average purchasing power of the region, this implies great letting opportunities for Rottweil.”
Nadine Robra, Teamleader Transaction Management Germany, HIH Invest
“In recent years, the district of Rottweil has registered a steady upward growth in population, and the trend is set to continue through 2030. One of the driving factors is the need for options to work from home in the wake of the COVID-19 pandemic, which has stimulated the demand for housing in rural areas close to the outdoors and with convenient transport links to the metro regions.”
Tom Kircher, Fund Manager, HIH Invest
“The family-friendly housing estate created in Rottweil lives up to the high sustainability standards we set: market-consistent, generously proportioned apartments with convenient transportation access. The incoming tenants will therefore benefit from short distances and—at least as important—from a socially responsible rent level.”
Ansgar Pape, Member of the Investment Committee Residential, HIH Invest
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