HBB Capital Investors sells mixed-use property in Karlsruhe to institutional investor
HBB Capital Investors has sold the property at Zeppelinstrasse 2 in the Karlsruhe district of Grünwinkel after successful restructuring and new or subsequent letting before the end of the intended holding period. The parties have agreed not to disclose the purchase price.
The multi-tenant building has a rental area of around 9.500 m², of which around 5.900 m2 on office, 2.600 m2 on practice, 170 m2 on residential and 800 m2 on storage space and is currently 100 percent fully let
The property is located near the city center in the south-western Karlsruhe district of Grünwinkel and is part of the urban redevelopment area of the same name. The recently adopted redevelopment resolution provides, among other things, for the upgrading and greening of the commercial area by removing the sealing of the areas and the construction of quarters in order to create a lively, urban place with a high quality of stay. The commercial area is also very well connected to public transport with the nearby Karlsruhe Liststraße bus stop and the Karlsruhe West S-Bahn station. The main train station is around a ten-minute drive away and the direct location on the B10 also allows quick access to the BAB 5, BAB 8 and BAB 65 motorways.
During the original purchase in 2018, HBB Capital Investors succeeded in combining different co-ownership shares. As a result, extensive maintenance and fire protection measures were implemented on the property, which was built in 1993, and rental contracts with users from the medical sector were extended early and new long-term rental contracts were concluded.
The new owner would like to implement sustainability measures and thus bind other existing tenants to the property in the long term.
The HBB group of companies, based in Hamburg, has been active in the real estate industry as an investor and project developer for over 50 years. Retail, office, hotel, senior citizen and residential properties have been built across Germany. HBB sees itself as a specialized investor with the aim of creating long-term, successful values. HBB is an owner-managed company and has a well-trained team of over 100 employees.
