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07.04.2022 – IMAXXAM acquires retail park near Kiel

IMAXXAM Asset Management GmbH has acquired another property for Union Investment’s special real estate fund as part of an asset deal. The retail park in Schwentinental will form part of the “German Small Asset Invest II” fund.

The properties, which were completed in different years of construction and are fully let, have a total lettable area of around 18,000 m² and enjoy a strong positioning in the well-known Ostseepark. More than 400 parking spaces are available for the retailers’ customers on the almost 38,000 m² plot. The good tenant mix consists of tenants with strong credit ratings who have made a long-term commitment to the location. The seller is PATRIZIA AG.

Holger Kohl, Managing Director of IMAXXAM says of the transaction: “The property in Schwentinental was an excellent start to the new year 2022. With this investment, we are well on the way to achieving the goals we set ourselves.” Christoph Geißler, also Managing Director of IMAXXAM added: “The purchase ideally expands and stabilises the portfolio. Further purchases for our funds are already in the pipeline and planned for the coming months.”

GSK Stockmann Rechtsanwälte Steuerberater Partnerschaftsgesellschaft mbB was commissioned by the buyer to carry out the legal and tax due diligence. The technical due diligence was carried out by Drees & Sommer. The transaction was brokered by Jones Lang LaSalle SE in Hamburg.

09.02.2022 – IMAXXAM acquires office building in Munich-Gräfelfing for Union special fund

IMAXXAM Asset Management GmbH has acquired another property for Union Investment’s special real estate fund as part of an asset deal. The modern office property in Gräfelfing near Munich will form part of the German Small Asset Invest I and II funds. Completed in 2011 and fully let, the core property has a total lettable area of around 14,847 m² and boasts modern architecture with all the requirements placed on contemporary office space.

The property has silver certification according to the standards of the German Sustainable Building Council (DGNB). The main tenant is Philip Morris GmbH with a long-term lease. The seller is a property company of MPC Capital from Hamburg for one of its closed-end real estate funds.

Holger Kohl, Managing Director of IMAXXAM, says of the transaction: “The property in Gräfelfing was an optimal addition to our portfolio for 2021. In the new year 2022, we will continue to focus intensively on acquisitions and intend to invest approximately EUR 500 million in core and core+ properties between EUR 10 and EUR 60 million.

GSK Stockmann Rechtsanwälte Steuerberater Partnerschaftsgesellschaft mbB in Munich acted for the buyer side for the legal and tax due diligence. Lehmann Consult GmbH & Co. KG was responsible for the technical due diligence.

02.02.2022 – IMAXXAM funds are going green

The requirement for companies to actively participate in climate protection is continuously increasing. IMAXXAM decides to act and now relies, among other things, on electricity and gas from renewable energies. By switching to green energy, it is reducing its CO2 emissions and positioning itself on the market as a company for sustainable funds.

Through the cooperation with Westbridge Advisory GmbH, which has the sustainable optimisation of operating costs as its goal, IMAXXAM succeeds in the emission-free conversion of its electricity and gas supply contracts. As part of the cooperation, the players opted for a municipal company with a fixed term until the end of 2024.

In future, the energy for the funds’ properties will come from wind energy, hydropower and biomass from recognised European plants. Added to this is the 100% renewable energy generation certified by EKOenergy. The LEED criteria, which are used to assess the sustainability of real estate, are thus also fulfilled.

Christoph Geißler, the managing director responsible for ESG, says: “There is no way around ESG and it will be one of the central topics of the real estate industry in this decade. By purchasing green energy in our properties, we are taking a central step and creating additional cost security for our tenants through long-term purchase agreements.”

IMAXXAM is also planning further steps in the coming year to sustainably reduce its carbon footprint and thus avoid depleting fossil resources, but also to meet investor requirements. Thus, IMAXXAM will prospectively delve deeper into both the energetic refurbishment of the existing building stock and the cross-area planning of photovoltaic systems and the corresponding certifications.

25.01.2022 – IMAXXAM buys office building in Fürth for Union Special Fund

IMAXXAM acquires office building in Fürth for Union Investment special fund IMAXXAM Asset Management GmbH has acquired a further office building with warehouse space in Fürth for the “German Small Asset Invest” special real estate fund, which it manages for (institutional) investors managed by Union Investment.

The office property, named Office S31, was built in 1994 and is located in the industrial estate of the Hardhöhe district in Fürth. The property, which stands on a 7,683 m² plot, comprises a rental area of around 9,931 m² and 171 parking spaces. The tenants of the property come from the mechanical engineering, software development and technology sectors. The seller of the property is the developer and portfolio holder, Weisert Holding GmbH from Nuremberg.

In addition to the existing buildings, the property still has a construction reserve on which a further 5,000 to 7,000 m² of office space can be built in the future. Holger Kohl, Managing Director of IMAXXAM, says about the acquisition: “Office S31 is a fully let revitalised multi-tenant office building with further development potential, which ideally complements our portfolio both geographically and in terms of tenant structure. Especially with the investment in the metropolitan region of Nuremberg, we can further diversify our portfolio

For the legal and tax due diligence, KUCERA Rechtsanwälte Steuerberater Notar Partnerschaft mbB in Frankfurt am Main acted on behalf of the buyer. Schultz Ingenieurbüro für Bauwesen GmbH in Wetzlar was responsible for the technical due diligence.

18.01.2022 – IMAXXAM buys office and university campus in Frankfurt am Main

Asset and portfolio manager IMAXXAM has acquired the “HoST” (House of Science and Transfer) office and university campus in Frankfurt’s Nordend district. The purchase was made for two special AIFs of Union Investment. The special AIFs “German Small Asset Invest” and “German Small Asset Invest II” invest in value-stable commercial and residential properties throughout Germany.

The building complex consists of a total of three sections and was extensively refurbished and modernized by the seller, Max Baum Immobilien. The main tenant in the buildings with a long-term lease agreement is the “Frankfurt University of Applied Sciences” in addition to the central Unicampus, which is located in the direct vicinity approx. 300 m away. The House of Science and Transfer (HoST) of Frankfurt UAS is the space to bring ideas, knowledge and technologies from Frankfurt UAS into practice and at the same time to absorb ideas, knowledge and impulses from practice.

To bridge the gap between science and practice, the building therefore houses tenants from Frankfurt’s business community in addition to the Frankfurt University of Applied Sciences. The buildings, which stand on an 8,600 m² site, comprise a rental area of around 16,500 m² and 230 outdoor and underground parking spaces. The purchase price was in the mid double-digit million range.

Christoph Geißler, Managing Director of IMAXXAM says of the acquisition, “With HoST Campus, we have secured a functional property in a convenient city location for our special AIFs, which guarantees us solid and sustainable rental income.” GSK Stockmann in Munich acted for the buyer side for the legal and tax due diligence. GFP Goldschmidt Fischer Schütz Projektmanagementgesellschaft mbH of Heusenstamm was responsible for the technical due diligence. Legal advice on the buyer side was provided by GSK Stockmann in Munich and for the seller by bhp Bögner Hensel & Partner. The deal was brokered by Jones Lang LaSalle SE. 

22.12.2021 – IMAXXAM exceeds expectations and doubles AUM to 800 million euros within one year

The asset and fund manager IMAXXAM Asset Management successfully closed transactions of more than 400 million euros in 2021. The investments were made throughout Germany and ranged between 5 and 65 million euros for the individual property. The acquisitions were made for the four open-ended special AIFs managed on behalf of Union Investment and covered almost all asset classes. Managing directors Christoph Geißler and Fabian Schäfer commented: “In the case of the extremely heterogeneous portfolios, emphasis is already placed on forward-looking sustainability criteria for the property in the acquisition decision, and active asset management has already resulted in the first effective successes in improving the ESG standards of the existing portfolio.” Managing Director Holger Kohl adds: “Our growth course continues – in the fourth quarter we were already able to conclude further subscription rounds for our funds and we are planning purchases of over half a billion euros for the coming year.”

08.10.2021 – IMAXXAM buys residential and commercial building in Mülheim an der Ruhr for Union Special Fund

IMAXXAM Asset Management GmbH has acquired another residential and commercial building for the German Small Asset Invest II special real estate fund, which it manages for (institutional) investors managed by Union Investment. Built in 2002, the property is located in the heart of the Broich district of Mülheim and is notable for its striking appearance. The property, which stands on a 10,111 m² plot, has an area of around 13,781 m² and a total of 272 outdoor and underground parking spaces. The parties have agreed not to disclose the purchase price.

Christoph Geißler, Managing Director of IMAXXAM, says of the acquisition: “The purchase for the special fund ideally expands and stabilises the portfolio through the mix of uses. With the purchase in Mülheim a.d.R. we can further diversify the portfolio. Further purchases in the small asset segment are already in the pipeline and planned for the coming months.” The property is fully let and has a main tenant in EDEKA, which has committed to the location for the long term. The remaining units are split between various retail tenants, ALDI as office tenant and a variety of residential tenants. The seller is OMEGA AG from Munich. GSK Stockmann Partnergesellschaft mbB from Munich acted for the buyer side for the legal and tax due diligence. Lehmann Consult GmbH & Co. KG from Cologne was responsible for the technical due diligence.

21.09.2021 – IMAXXAM Asset Management GmbH extends lease with HUK-Coburg ahead of schedule

IMAXXAM Asset Management GmbH was able to achieve an early extension of the lease with HUK-Coburg in the office and commercial building at Bahnhofstraße 1 in Regensburg, which was  acquired in fall 2020. The insurance and financial services company built the property itself at the beginning of the 1990s, has been a tenant in the building since March 2007 and herewith confirms its clear commitment to the location. The lease agreement for the nearly 2,070 m² of rental space was extended until December 31, 2030 plus options. The property, with HUK-Coburg as the main tenant, thus continues to be fully leased. In the course of the lease extension, the insurance company is carrying out numerous modernization measures in the first floor areas in order to introduce the “Point of Sale” customer service concept. Managing Director Fabian Schäfer comments: “Keeping HUK-Coburg as a former building owner and anchor tenant in the property for the long term was a major concern for us. We are therefore all the more pleased about the lease extension and the continued cooperation.”

27.08.2021 – IMAXXAM Asset Management GmbH extends lease with Debeka ahead of schedule

IMAXXAM Asset Management GmbH was able to achieve an early extension of the lease with Debeka in the office and commercial building at Frankfurter Strasse 4 in Giessen, which was acquired at the turn of the year. The insurance and financial services company has already been a tenant in the building on the Anlagenring in the city center since July 2007, thus reaffirming its clear commitment to the location. The lease was extended until June 30, 2027 plus options. The property with the main tenant Commerzbank thus continues to be fully leased. As part of the lease extension, IMAXXAM Asset Management GmbH is carrying out numerous modernization measures in the Debeka premises. These include the renewal of floor coverings and lighting systems as well as the installation of an air conditioning system.

20.07.2021 – IMAXXAM acquires UNICOM2 in Bremen for Union Special Funds

An additional office building was acquired for the real estate special fund „German Small Asset Invest“, which IMAXXAM Asset Management GmbH manages for (institutional) investors supervised by Union Investment. 

The office building, UNICOM2, built in 2003, is located in the Technology Park in the city of Bremen and is located close to the university. The property on the 5,229 m² plot comprises an area of around 10,800 m² and 143 underground parking spaces, the purchase price was in the middle double-digit million range.

Holger Kohl, Managing Director of IMAXXAM, commented on the acquisition: “The purchase for the special fund is an ideal complement to the portfolio. Especially with the state capital Bremen, we are able to further diversify our portfolio with a strong B-city.“ The tenants of the property mainly come from the fields of research and development. The seller is Real Estate Venture Capital Deutschland GmbH. “IMAXXAM plans to invest in properties between 10 and 50 million euro for the funds it manages this year for around 300 million euro”, adds Christoph Geißler, also Managing Director of IMAXXAM.

For legal and tax due dilligence, Noerr Partnergesellschaft mbB Rechtsanwälte Steuerberater Wirtschaftsprüfer worked for the buyer side in Frankfurt am Main. Schultz Ingenieurbüro für Bauwesen GmbH in Wetzlar was responsible for the technical due dilligence. The purchase for the special fund is an ideal complement to the portfolio. Further investments by Core and Core+ properties are planned in the small asset segment between 10 and 60 million euro.

20.05.2021 – IMAXXAM Asset Management GmbH continues to buy for special funds
  • Best-known office building in Rostock
  • Long-time tenant is OstseeSparkasse Rostock
  • Acquisition takes place for the now third special fund “German Small Asset Invest II”:

Following successfully completed transactions in Munich, Mannheim, Gießen and Langenfeld, Union Investment and IMAXXAM Asset Management GmbH have now acquired an office building in the city centre of Rostock, Mecklenburg-Vorpommern.

Built in 2000, the property is one of Rostock’s best-known office buildings and is in a prime location not far from the pedestrian zone and around 500m from the main railway station. The property, which stands on a 5,430m² plot, has a gross floor area of around 19,000m² and 26 underground parking spaces. It is fully let to OstseeSparkasse on a long-term lease with a WAULT of more than 11 years.

The due diligence for the property, which has excellent transport connections, was accompanied by Schultz Ingenieurbüro für Bauwesen GmbH on the technical side and Kucera Rechtsanwälte on the legal side.

The purchase was made for the special fund “German Small Asset Invest II” and ideally complements the portfolio both geographically and in terms of the mix of uses. Further investments in core and core+ properties are planned in the small asset segment between 10 and 60 million euros.

17.02.2021 – IMAXXAM Asset & Portfolio Management GmbH acquires an office and commercial building in Gießen, Central Hesse, for AIF real estate special fund

For the newly launched real estate special fund “German Small Asset Invest II”, which IMAXXAM Asset Management GmbH manages for (institutional) investors managed by Union Investment, an office building in Gießen was acquired as a further property.

The office and commercial building in Frankfurter Straße is characterised in particular by its inner-city location and proximity to the pedestrian zone / shopping arcade. The property has 3,828 m² of total lettable space in two interconnected building sections, each with four full storeys. The property is fully let and consists exclusively of office space in addition to a bank branch. The property was sold by W2005/W2007 Carnoustie B.V. in the form of an asset deal. The closing took place at the turn of the year.

KUCERA Rechtsanwälte Steuerberater Notar Partnerschaftsgesellschaft mbB, Frankfurt am Main, acted for the buyer side for the legal and tax due diligence. The engineering and expert office Schultz, Wetzlar, was responsible for the technical due diligence.

04.02.2021 – Press release on third IMAXXAM fund

IMAXXAM Asset und Portfolio Management has launched its third real estate fund as an independent investment manager. Managing Director Fabian Schäfer explains: “the newly launched fund is designed for a target volume of €1 billion in the first step, but can be expanded further, also depending on market developments post Corona”. IMAXXAM already manages two real estate funds for which properties with a volume of approx. 400 million euros were acquired in the past two years. Christoph Geißler, who joined IMAXXAM as an additional managing director at the beginning of the year, continues: “We are essentially concentrating on the B, C and also D locations in Germany because, on the one hand, we also find the smaller to medium ticket sizes interesting and the market is not as competitive here as in the top 7 and other new A cities. Good opportunities, especially if they are off-market, we of course also look at A-cities.” The target yield for the exclusively institutional investors, mainly from the banking environment, is around 4%, with managing director Holger Kohl, who is responsible for acquisitions, adding: “We try to bring about the broadest possible diversification by investing in office, retail and also residential properties.” The first subscription phase of the fund has already been completed and the first purchases have been made in Mannheim, Munich and Gießen. Three further transactions are currently in the final negotiation phase.” IMAXXAM plans to make further total investments of up to half a billion euros in 2021, so that it can then start the second subscription tranche in the second half of the year,” Geißler continues. In addition, there are other potential clients from the financial sector with whom talks for the acquisition of an investment mandate are already very advanced.

07.01.2021 – Christoph Geißler strengthens management of IMAXXAM Gießen

At the turn of the year, Christoph Geißler (44) was appointed to the management board of the asset and investment manager IMAXXAM Asset Management GmbH. In the future, he will manage the company’s business together with Holger Kohl and Fabian Schäfer and support its steady growth. Geißler says of his new position “With my many years of experience in the field of regulated funds, I am sure that I will be able to help IMAXXAM significantly in its further expansion and planned significant growth.”

Christoph Geissler has over 20 years of experience in the real estate industry and has worked in various consulting firms, banks and fund issuing houses.

Kohl and Schäfer on Christoph Geißler’s move “We are delighted to welcome such an experienced and respected partner as Mr Geißler to our management team. Particularly against the background of the purchase volume of € 500 million planned for 2021, it is important that we significantly broaden our company in terms of personnel.”

IMAXXAM already manages three open-ended special funds of Union Investment at the turn of the year. Geißler continues, “Our goal is to invest our investors’ capital promptly”.

03.08.2020 – IMAXXAM Asset & Portfolio Management GmbH acquires an office ensemble in Bad Homburg for AIF real estate special fund

Another property has now been acquired for the German Small Asset Invest special fund launched at the beginning of 2020, which IMAXXAM Asset Management GmbH manages for investors managed by Union Investment.

The office ensemble, built in 1987, is located in Bad Homburg, Hesse, in the heart of the Frankfurt am Main metropolitan region. The office complex, which was extensively modernised and revitalised in 2019 / 2020, has approximately 16,166 m² of lettable space, of which approximately 7,400 m² is let to the Bundesanstalt für Immobilienaufgaben.

The property was sold from the portfolio of the Frankfurt project developer and family office SWIFT Holding GmbH in the form of an asset deal. Bethge Rechtsanwälte und Steuerberater Sauer from Stuttgart acted on the seller’s side.

For the legal and tax due diligence, KUCERA Rechtsanwälte Steuerberater Notar Partnerschaft mbB, Frankfurt, acted for the buyer side. The engineering and expert office Schultz, Wetzlar, was responsible for the technical due diligence.

22.07.2020 – IMAXXAM Asset & Portfolio Management GmbH acquires Schlick-Center in Neuwied for AIF real estate special fund

Another property has been acquired for the “German Small Asset Invest” special fund, which IMAXXAM Asset Management GmbH manages for investors managed by Union Investment.

The commercial building known as Schlick-Center is located in a highly visible position at the northern entrance to Neuwied’s pedestrian and main shopping zone. The entire complex was expanded and modernised in 2014. It has just under 16,000 m² of commercial rental space with a mix of retail, gastronomy, medical / health, fitness, office and car parking spaces.

The property was sold by a fund managed by Dietz AG in the form of an asset deal. The seller was advised by Clifford Chance.

For the legal and tax due diligence, Noerr LLP acted on behalf of the buyer, while the engineering and expert office Schultz from Wetzlar was responsible for the technical due diligence.

17.07.2020 – IMAXXAM Asset & Portfolio Management places first property in the “German Small Asset Invest” AIF real estate special fund

The first property to be acquired for the newly launched “German Small Asset Invest” special fund managed by IMAXXAM Asset Management GmbH for investors managed by Union Investment was the mixed-use building ensemble “Quartier Ruhr-Aue” in a central city location in Herdecke.

Completed in 2012 and fully let, the complex consists of five separate buildings with a total lettable area of approx. 14,000 m². Uses range from classic retail, various catering establishments, medical practices as well as offices and flats.

Sellers are private individuals. The purchase took the form of an asset deal.

For the legal due diligence, Noerr LLP acted on behalf of the buyer, while Lehmann Consult was responsible for the technical due diligence.

22.02.2020 – IMAXXAM Asset & Portfolio Management GmbH acquires an office and commercial building in Marburg for AIF real estate special fund

Another property was acquired for the “Property Invest Germany” special real estate fund, which IMAXXAM Asset Management GmbH manages for an investor managed by Union Investment.

The office and commercial building in Marburg-Mitte is characterised in particular by its central inner-city location. The property has approx. 3,717 m² of rental space and is used as a bank branch on the ground floor. The three upper floors are classic office spaces. The building also has a two-storey underground car park. The property was sold by VR LEASING FLAVUS GmbH & Co. Immobilien KG in the form of an asset deal. The closing took place at the turn of the year.

Noerr LLP, Frankfurt am Main, acted for the legal and tax due diligence of the buyer.

04.02.2020 – IMAXXAM Asset & Portfolio Management GmbH acquires an office, residential and commercial building in Langenfeld for AIF real estate special fund

For the newly launched “German Small Asset Invest II” special fund of Union Investment Institutional Property GmbH, IMAXXAM Asset Management GmbH has acquired the Stadtgalerie in Langenfeld.

The office, residential and commercial building in Langenfeld, which was built in 2000, is characterised in particular by its inner-city location and the diversified tenant mix. The property, which is predominantly used for commercial purposes, extends over four floors with a total lettable area of approximately 14,737 m². The property was sold off-market by Wohninvest, Fellbach in the form of an asset deal. The closing took place at the turn of the year.

KUCERA Rechtsanwälte Steuerberater Notar Partnerschaftsgesellschaft mbB, Frankfurt am Main, acted for the buyer side for the legal and tax due diligence. The engineering and expert office Schultz, Wetzlar, was responsible for the technical due diligence.

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