Montano Real Estate GmbH

22.11.2023 - 07:30:07

Montano acquires the 'Haus am Staatstheater' in Wiesbaden for a professional pension fund

Issuer: Montano Real Estate GmbH / Key word(s): Miscellaneous

22.11.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

Montano acquires the "Haus am Staatstheater" in Wiesbaden for a professional pension fund Attractive core commercial property in city center location Very solid tenant base with the State of Hesse as the main tenant ESG Quick Check carried out and concrete action plan drawn up Munich, 22. November 2023 - Montano Real Estate GmbH ("Montano", www.montano.eu), the highly specialized partner for investments in commercial real estate, has acquired an attractive office and commercial building for a German professional pension fund. The "Haus am Staatstheater" in Wiesbaden's city center has around 6,000 sqm of rentable space and 34 parking spaces. The main tenant is the State of Hesse. The parties have agreed not to disclose the purchase price. The "Haus am Staatstheater" is located on the corner of Wilhelmstrasse and Burgstrasse and is part of an overall complex protected as a cultural monument: the Wiesbaden "Quellenviertel", also known as the "Sauerland". Built in 1962 and modernized in 2021, the building has five upper floors and an additional top floor with storage space in the building block along Wilhelmstrasse. The upper floors are used for offices and surgeries, while the six commercial units on the first floor are used exclusively by luxury retail stores. In addition to an underground garage with 20 parking spaces, there are also technical and storage areas in the basement. The majority of Wiesbaden's hotspots are just a few minutes' walk from the building. The Hessian State Theater with its parks and green spaces is right on the doorstep, while Schlossplatz and the Hessian State Parliament are just a few minutes away. Lines 1, 8 and 16 provide users with public transport connections every five minutes and take around seven minutes to reach the main train station. Wilhelmstrasse is Wiesbaden's "luxury mile" and is historically characterized by a large number of boutiques and jewellers. The excellent infrastructure and numerous restaurants and cafés make the street one of the most attractive locations in the city. "We are very pleased that we were able to acquire this excellently located property for our client. The office property market in Wiesbaden has seen successively rising rents in recent years and this is not the only reason why it is attractive: as the state capital of Hesse, Wiesbaden is a center for administration and services and the available office space is increasingly being rented by public authorities. Such tenants are generally interested in long-term contracts and there is only a very low risk of loss of rent. This promises investors secure long-term returns. We have already carried out an initial ESG Quick Check and developed a concrete action plan. The main aim of this is to reduce the building's energy and water consumption and thus increase its value," says Samson Weldemariam, Head of Investment at Montano Real Estate. POELLATH provided legal and tax advice, while KROLL REAG was responsible for technical advice and environmental due diligence. About Montano Real Estate
Montano is the highly specialized, like-minded partner for commercial real estate. We act consistently entrepreneurial and simplify complexity. From offices in Munich, Frankfurt and Berlin, we explore the market. We recognise opportunities quickly and exploit them boldly. For more than 10 years, we have been developing investment products for German and international institutional investors, consistently pursuing the goals of sustainability, yield and value enhancement. www.montano.eu Contact
Montano Real Estate GmbH
Lenbachplatz 5
80333 Munich, Germany
Phone +49 89 24 21 69 80 0
Email presse@montano.eu

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