The Hamburg investment and asset manager Fondsgrund Investment has acquired the No.1 office and hotel property in Mannheim for a club of German institutional investors from a subsidiary of Adler Group.
The property, built at the end of 2020, is located in the Glückstein district of the city, the most important as well as an office unit there is a Holiday Inn hotel with 150 rooms.
What they said
Dietrich Wittenberg, managing partner of Fondsgrund, said: "With No.1 we were able to offer our investors a property with a high location and value quality ... long-term cash flow and the necessary ESG standards..."