Ehret+Klein AG secures the future of the Gerberquartier in Worms after the insolvency of the joint venture partner

Financial stability is now ensured by the transfer to a fiduciary administration with the involvement of Dentons and the conclusion of a standstill agreement. The structure that has now been implemented was developed in close coordination with the financing bank. The trust structure will be financed by Ehret+Klein AG.

The aim of the measures introduced is the best possible utilization of the property in the interest of all parties involved. To this end, advanced talks are already being held with several regional interested parties.

"In a challenging situation, we have succeeded in developing a viable and future-oriented solution together with our partners. The structure that has now been created restores the project company's ability to act and enables an orderly sales process," says Sebastian Wasser, CEO of Ehret+Klein AG.

"It was crucial that all those involved were willing to analyze the situation openly and develop a sustainable structure in the interest of the project. In this way, we are now creating the basis for an orderly sales process and a resilient perspective for the Gerberquartier," adds Maximilian Neumann, Head of Investments at Ehret+Klein AG.

On the approximately 16,000 square metre site between Schönauer Straße, Gerbergasse and Pankratiusgasse in Worms, the development of around 200 residential units with a focus on multi-generational living as well as additional commercial space and a hotel is planned. The aim is to create a lively neighbourhood close to the centre. Ehret+Klein AG has been supporting the project since 2021 as part of a joint venture. The planning is well advanced, and the existing building rights were recently extended until 2030. After a successful sale, the project development can be continued promptly.

The incident affects only the project company Gerberquartier Worms GmbH & Co. KG and has no impact on other projects or companies of Ehret+Klein AG.