The real estate investment management team of Hauck Aufhäuser Lampe Privatbank (HAL REIM) has acquired the “Am Sonnengarten” health centre in Mannheim for the special real estate fund “HAL Soziale Infrastruktur Deutschland II”. The fully let property at Hauptstraße 161 was originally built in 2002 as an office building and has been modernised by TBR Immobilien in recent years and converted into a health centre. The property has a PV system as well as a BREEAM certification “Good”. Heat is supplied by district heating, which is to be generated in Mannheim in a climate-neutral manner by 2030.
The three-storey property in the Mannheim-Feudenheim district has an underground car park with 53 parking spaces and 14 outdoor parking spaces. The rental area is 3,427 square meters, about 70 percent of which is rented to users from the health-related sector. These include practices for orthopaedics, dentistry, physiotherapy, urology, psychotherapy and orthodontics as well as a medical supply store. The remaining space is currently used as office space. The WAULT is currently around 6.3 years.
The location benefits from its location within the Rhine-Neckar metropolitan region with around 2.4 million inhabitants. The property borders on the grounds of the Federal Garden Show 2023, where the model quarter “Spinelli” with around 4,000 residents is currently being built. The “Mannheim Medical Technology Campus” is about two kilometers away.
“With the acquisition in Mannheim, we are already acquiring the third property for our fund. This means that we have fully invested the capital from the first closing and built up an attractive starting portfolio. The second closing in the mid-double-digit million range is scheduled for April 2026,” says Patrick Brinker, Head of Real Estate Investment Management at Hauck Aufhäuser Lampe. “Demand on the investor side is good. Banks and insurance companies in particular are rewarding the design of our investment vehicle as a pure equity fund. After the second closing, we will continue to expand the portfolio rapidly and already have a well-filled property pipeline.”
“We see considerable potential in the further development of the tenant mix to strengthen our positioning as an outpatient healthcare property,” says Felix Rotaru, Director Healthcare at Hauck Aufhäuser Lampe. “Mannheim is a very attractive health location with a high demand for outpatient care services, which also offers further development opportunities for our health center in the future.”
The “HAL Social Infrastructure Germany II” fund invests primarily in core and core+ properties in outpatient healthcare. In addition, a value-add strategy is pursued with a share of 30 percent, which provides for the purchase of properties with potential for conversion, densification, additional buildings or project development measures. The special real estate fund is designed as a pure equity fund with a target volume of 200 to 250 million euros. The targeted cash-on-cash yield is expected to be above 4.75 percent p.a., assuming a forecast period of twelve years. INTREAL acts as a service KVG.
The current third “Market Report on Outpatient Healthcare Properties” by HAL REIM in cooperation with CBRE offers more information on the special segment and shows that structural changes in the healthcare sector, the increasing outpatient provision of medical services and demographic change are further increasing the demand for modern outpatient care structures.
The market report is available for download free of charge under the following link:
3. Market Report Outpatient Healthcare Real Estate
