- CV Real Estate AG acquires entire project development from KanAm Grund Group
- Quarter with ultra-modern, flexible office space planned
- "Ladehöfe Augsburg" one of the most interesting development sites in the southern German region
(Munich, March 2021) Perfect city center location with ideal transport links – a new, ultra-modern urban quarter is currently being built on the site of the former Ladehöfe, directly adjacent to Augsburg's main train station, which will combine residential and commercial space. CV Real Estate AG, together with KanAm Grund German Development Fonds, had already acquired the approximately 4,000 sqm construction sites from Aurelis Real Estate in 2019. Now that the internal project target has been reached for the KanAm Grund Group, CV Real Estate AG has taken over the project shares of its joint venture partner. This means that the Munich-based project developer is now the sole owner. Whereas initial plans for the quarter, which will offer a gross leasable area of around 16,000 sqm, still envisaged hotel and boarding house space, CV Real Estate AG is now realizing exclusively ultra-modern, flexible office space on the former railroad site. "We see immense potential in this exciting, forward-looking project," says Christian Vogrincic, board member and CEO of CV Real Estate AG: "It is certainly one of the most interesting inner-city sites in southern Germany. We are all the happier that we can now bring the project to life with our vision as sole owner very soon." Construction of the forward-looking inner-city quarter is scheduled to start in late fall 2021. However, negotiations are already underway with several well-known tenants, meaning that around 60 percent of the space is already close to completion. The parties have agreed not to disclose the purchase price.
The city of Augsburg has long been planning a comprehensive revitalization of the derelict former railroad site. The aim is to create an innovative, modern mixed-use district that combines living, working and recreation and will become a model for forward-looking urban project development. "The Ladehöfe are one of the last promising development sites in Augsburg and thus naturally have a high urban development significance," says Anatol Obolensky, CEO and COO of CV Real Estate AG: "It is an enormous task for us, but also an incredible opportunity to be able to help shape this forward-looking quarter in the long term."
Further innovative projects in implementation
Apart from the project development in Augsburg, CV Real Estate AG is currently also active in Nuremberg, among other places. There, as part of the Lichtenreuth project development, the Munich-based real estate and investment specialist is realizing a residential development with 280 ultra-modern apartments on the former freight station site. The pioneering mixed-use development is being built in the immediate vicinity of the new Nuremberg Technical University, which is scheduled to start teaching here in 2025.