Die RQI RE. Structuring Solutions GmbH, a subsidiary of the nationwide real estate investor and management partner RQI Immobilien AG, has sold a multi-storey car park in Brönnerstraße in Frankfurt to Contipark International Parking GmbH (Contipark) as part of its asset management mandate for the portfolio of SIGNA Development Selection AG. The purchase price was not disclosed.
The property, which is centrally located between Konstablerwache and Hauptwache, is very well connected in terms of transport and has around 700 car parking spaces on a gross floor area of around 18,500 square metres. The former Karstadt car park was built in 1969 and partially modernised between 2020 and 2023.
"The RQI RE. In addition to asset management, Structuring Solutions provided full support for the sale and took over both marketing and complete process control as well as the purchase contract negotiations up to closing. The successful implementation of our complex exit strategy was only possible thanks to the trust of the lending Kreissparkassen Darmstadt and Groß-Gerau as well as the owner SIGNA Development AG. This transaction underlines the need for individual solutions for real estate in 'special situations'," explains Carsten Meinhardt, Managing Director of RQI RE. Structuring Solutions GmbH.
"We at Contipark are very pleased about the acquisition of this excellently located multi-storey car park directly on Frankfurt's Zeil. This acquisition once again underlines our targeted growth trajectory. Before the parking garage reopens, however, extensive renovation work will take place in order to create further added value for Frankfurt's city center with modern standards and a customer-friendly offer," explains Andreas Knops, member of the management board of Contipark.
Legal advice on the seller's side was provided by LOSCHELDER Rechtsanwälte, while the buyer's side was provided by NEON Partnerschaft von Rechtsanwält:innen mbB. A team led by Eckhard Schneider worked for Sparkasse Darmstadt and Reinhard Kirst for Sparkasse Groß-Gerau.
RQI RE. Structuring Solutions took over the mandate for the asset management of the portfolio of Signa Development Selection AG in September 2024. In this context, RQI is responsible for the asset management of the company's entire German real estate portfolio. The properties under management are not affected by the insolvency proceedings of the Signa Group.
In the focus of RQI RE. Structuring Solutions offers distressed project developments and existing buildings in the residential and commercial sectors, especially office and retail properties in German-speaking countries. As a consulting subsidiary, the company follows the overarching approach of RQI Immobilien AG in its activities, which is to manage the acquired value-add properties at core level through targeted measures, taking into account an ESG approach.
