The real estate expert Pegasus Capital Partners (Pegasus) from Erlangen, which specialises in financing structures, is supporting the revitalisation of the historic MalzQuartier in Erfurt by providing mezzanine capital. Pegasus is financing the development of two construction phases with a low double-digit million amount. The project is being implemented by a joint venture of RB Development, Goldmann Group and Profi Partner and includes the transformation of a former malthouse into a modern residential and commercial district.
The project development includes the construction of 306 apartments, 16 commercial units and 122 parking spaces in two construction phases (BA 1 and BA 2). BA 1 has already been completed and handed over to the owners. BA 2 is under construction. The residential units have already been almost completely sold.
“The MalzQuartier impressively shows that mezzanine capital works reliably even in challenging market phases,” says Martin Führlein, CEO of Pegasus Capital Partners. “Together with our project partners, we are making an important contribution to the further development of an important historic building and at the same time strengthening Erfurt as a residential location.”
The MalzQuartier is centrally located in the western part of Erfurt’s Krämpfervorstadt. The city centre is directly accessible through the newly built pedestrian and cyclist bridge “Promenadendeck”. The main train station is about a ten-minute walk away. The surrounding area is characterised by Wilhelminian architecture, which forms a suitable framework for the revitalisation.
