RQI Immobilien AG (RQI), a nationwide real estate investor in the residential and office asset classes with a focus on portfolio optimisation and
development with a high level of vertical integration and headquartered in Wiesbaden, has acquired a residential building ensemble at Münsterstrasse 323-333 in Düsseldorf from a private investor. The acquisition was made as part of the company's "Redevelop-To-Core" strategy, which acquires properties with value-added potential as precursors in emerging, dynamic sub-markets in order to refine them and return them to the market as a core product. The purchase price was not disclosed.
The residential complex, built in 1951, consists of six contiguous apartment buildings with four or five floors. The total lettable area of around 3,000 m2 comprises 55 residential units between 40 m2 and 100 m2 as well as two commercial spaces with a total of around 130 m2. The property is very well connected to both public transport and private transport.
"The residential complex shows the typical signs of aging during its construction period and needs extensive modernization. This is exactly where our 'Redevelop-To-Core' strategy comes in: We can develop energy-efficient living space from existing buildings through comprehensive construction measures and create additional ones through targeted additions and densification. Specifically, an extensive energy-efficient renovation with an upgrade of the façade, windows and roof as well as the conversion of the attic floor is planned. In this way, we are not only creating urgently needed contemporary housing, but also reducing the emission of environmentally harmful emissions with the help of our integrated ESG approach. Portfolio development is the order of the day, as a recent DGNB study shows that new construction causes CO₂ emissions on average 2.4 times as high as renovations," explains Hendrik Möller, COO of RQI.
Loschelder Attorneys at Law provided legal support for the transaction on the buyer's side, while Aengevelt Immobilien provided commercial advice to the seller.
RQI's "Redevelop-to-Core" strategy focuses on established residential areas in cities with more than 50,000 inhabitants that are characterized by positive demographic and economic development. The geographical focus is on the conurbations in Rhine-Ruhr, Rhine-Main, Rhine-Neckar, the Nuremberg metropolitan region and the suburbs of Berlin. Investments will be made in batch sizes between 5 and 50 million euros. The aim is to comprehensively upgrade existing properties and keep them in the portfolio as stable core assets in the long term.
