- Successful sale to joint venture already completed after bidding process
- Innovative planning for approx. 8,500 sqm site tipped the scales
- Building permit already granted - construction to start in summer
(Munich/Nuremberg, January 2022) Successful conclusion for one of Bavaria's most innovative projects of the future: CV Real Estate AG, one of the leading project development and investment companies in Germany, has now successfully sold its construction project "Baufeld WA3" of the Lichtenreuth project development to a joint venture of GBI Holding AG with SCHULTHEISS Wohnbau AG after a swift bidding process. The Munich-based project development specialist had planned around 130 modern residential units on an approx. 8,500 sqm plot of land on the future quarter covering a total of 90 hectares on the former freight station site in Nuremberg since the acquisition in the fall of 2020. Christian Vogrincic, CEO and board member of CV Real Estate AG: "We are very happy that this highly attractive project will now be continued by equally innovative and experienced housing experts and that we have reached a very good conclusion for both sides after short and intensive negotiations." The parties have agreed not to disclose the purchase price. The bidding process was managed by JLL Munich, while CV Real Estate was legally advised by the Frankfurt-based law firm FPS in connection with the sale.
The decisive factor for the rapid sale was the efficient and far-sighted planning of CV Real Estate AG for the housing product, which encompassed all parameters – from the orientation towards current ESG aspects with green roofs and a sustainable overall concept to the consistent focus of all residential units on the needs of tomorrow. Only recently, the "green light" was given for the start of construction in the south of Nuremberg with the building permit. This will now take place in the summer of this year under the leadership of the new owners.
Lighthouse project for Bavaria
Comfortable living, modern working, good local amenities, sufficient space for recreation and leisure – and all this in the immediate vicinity of the new Technical University, which is being built as part of the innovative urban quarter development in Bavaria's second largest metropolis and will thus distinguish the new future quarter in Nuremberg-Lichtenreuth. Christian Vogrincic: "Part of the essence of our company is to develop projects at locations that have a lighthouse function far beyond the borders of the respective region. That is why this project particularly appealed to us and why we became active here. I am sure that this urban development concept will serve as a model for many similar conversion projects throughout Germany in the future. The fact that we will then have helped shape this project makes us very happy."
Further future projects in planning
In addition to Nuremberg, CV Real Estate AG is currently active with other future projects in Germany. For example, the company is also currently planning the premium office property CANYON in Frankfurt's Central Business District, which will set completely new accents in the banking metropolis with its green facade, and the innovative office property AURUM directly adjacent to Augsburg's main train station, for which building permission has already been granted recently. The company has planned new projects with a purchase volume of more than one billion euros for 2022.