NIKM GmbH has sold the "Wohnen auf der Friedenshöhe" residential project in Wuppertal.
Munich, 12.02.2020. BMO Real Estate Partners Germany from Munich has acquired the project "Wohnen auf der Friedenshöhe" in Wuppertal from the construction and project development company of HARFID Unternehmensgruppe from Essen and is thus expanding the portfolio of the special AIF "Best Value Wohnen II" launched in October 2019. HARFID is planning, developing and realizing the residential quarter as a total contractor. The project is located in the district Elberfeld in a very good location. The project development on the site at Barmenia-Allee comprises 61 residential units in six houses in 2- to 4-story construction as well as a total of 73 car parking spaces in three underground garages. The total usable floor space is around 5,250 sqm. Completion is scheduled for the end of 2022. The parties have agreed not to disclose the purchase price.
HANSAINVEST Hanseatische Investment-GmbH is acting as the capital management company for the property. In the context of the transaction, BMO REP Germany was advised by Jebens Mensching PartG mbB as legal and by Duff & Phelps REAG GmbH as technical due diligence partner. Legal advice to HARFID was provided by Luther Rechtsanwaltsgesellschaft mbH from Cologne. The brokerage firm was NIKM GmbH Naumann Immobilien & Kapital-Management from Dorsten.