For long-term portfolio management.
Aengevelt has brokered the sale of a block of flats in an exclusive riverside location on the River Elbe to Die Stadtfelder Wohnungsgenossenschaft e.G. in Magdeburg.
Die Stadtfelder Wohnungsgenossenschaft e.G. (DSW) has acquired, via Aengevelt, the prominent listed building “Kleiner Stadtmarsch 9”, situated on the Elbe island in Magdeburg’s Werder district. In total, the property – situated directly on the banks of the River Elbe and offering a unique view of the cathedral and Magdeburg’s city skyline – comprises 14 flats with a total living area of approximately 1,310 m² as well as 26 outdoor car parking spaces. Aengevelt was commissioned to handle the sale under an exclusive mandate from the seller. The parties have agreed not to disclose the purchase price.
“With this property, we have acquired a special building in a special location. Its position on the Elbe island combines an unobstructed view of the cathedral and the city skyline with easy access to the city centre. To preserve this listed building for generations to come, specific requirements must be met and modernisation work carried out with great care. We are committed to fulfilling these tasks,” says Jens Schneider, Chief Technical Officer at DSW.
“As a co-operative, we acquire properties with a view to preserving them in the long term and providing our members with good housing on a lasting basis. The fact that we can afford this purchase demonstrates just how sound DSW’s financial position is. This benefits all members, both in Werder and in Stadtfeld,” adds Jörg Koßmann, DSW’s Commercial Director.
“As part of its focus on its core market in Berlin’s affluent suburbs, the owner decided to sell the property and appointed Aengevelt as the exclusive agent. Given the property’s excellent features and prime location, it was important to the owner to place the property in responsible hands and thus ensure a positive long-term outlook for it. In the Stadtfeld Housing Cooperative, we have found the ideal buyer,” explains André Bühlig, deputy branch manager at Aengevelt Magdeburg, and continues: “Given the property’s unique features and qualities, as well as the seller’s objectives, Aengevelt adopted a highly selective approach to approaching potential buyers with an exact match to the search profile. As part of this targeted approach, the buyer, drawing on her excellent local market knowledge, recognised the property’s qualities and potential and acted decisively to secure it.”
