RQI Immobilien AG (RQI), a nationwide property investor and family office partner specialising in portfolio optimisation, portfolio development and change of use, has acquired a residential conversion project at Niddagaustraße 42 in Frankfurt-Rödelheim in partnership with Frankfurt-based Westend Bank AG, a wholly-owned subsidiary of the Hopp Family Office. The transaction is being carried out via the joint venture “RQI Smart Living in Frankfurt”. The total project value amounts to around EUR 50 million.
The acquisition relates to the conversion of a former office building, a project which had already commenced but was subsequently halted following the insolvency of a project developer operating nationwide. The property, with a gross floor area of around 8,400 m², is to be redeveloped into a contemporary residential complex comprising more than 100 units. The plan is to create a varied mix of micro-flats, serviced flats and townhouses, catering to different housing needs within the Frankfurt market. Marketing is scheduled to begin in spring 2028.
Complex refurbishment projects as a strategic investment focus
With this acquisition, RQI is consistently pursuing its investment strategy, which focuses on special situations, restructuring and value-enhancing portfolio development. The focus is on properties with complex technical, economic or legal circumstances, the potential of which can be realised through the integrated management of acquisition, financing, development and marketing.
The transaction also underlines RQI’s commitment to carrying out sophisticated property investments, in collaboration with selected capital partners, even in a challenging market environment. For the company, the project marks a further milestone in the expansion of its investment business, with a clear focus on residential property.
“Taking over a project that has been put on hold following insolvency proceedings, restructuring it, stabilising it, completing the construction work, letting it and finally selling it is one of the most challenging value-creation tasks in our sector. This is precisely where our core competence lies,” emphasises Prof. Dr Nico Rottke, Chief Executive of RQI Immobilien AG.
Strategic partnership with Westend Bank to be expanded
Through its partnership with Westend Bank AG, RQI is further expanding its existing collaboration with this financially strong partner. “RQI brings extensive expertise in the restructuring and development of high-end existing properties, which ideally complements our financing and structuring expertise. We see considerable potential in this partnership and look forward to jointly exploring further high-end investment opportunities,” explains Thomas Rosenfeld, Chief Executive of Westend Bank AG.
Housing through the smart transformation of existing properties
With the planned development in Frankfurt-Rödelheim, the joint venture is pursuing an approach whereby existing buildings are repurposed for a new, long-term marketable use. The combination of different types of housing is intended to appeal to a broad target audience and respond to the demand for compact, flexible and urban housing options in the Rhine-Main region.
This project exemplifies RQI’s investment strategy of identifying existing properties facing exceptional economic or structural circumstances, redefining their potential uses and positioning them sustainably in the market through targeted value-enhancing measures.
The commercial law firm Arnecke, Sibeth, Dabelstein provided legal advice on the execution of the transaction.
