Trei Real Estate GmbH (“Trei”), an international developer and asset manager, completed its Lotsenhof residential project at the Zollhafen locality in Mainz and handed it over to Competo, the incoming owner. The property, which provides 95 apartments on a combined floor area of about 6,700 square meters of residential area, had been under construction since October 2021. In 2022, the project was sold in a forward deal to Competo Capital Partners GmbH, an investment and asset management specialist based in Munich. In addition, Trei recently started construction of the student housing project on Dotzheimer Strasse in Wiesbaden. This development will deliver 182 modern single-occupancy apartments for students on a combined floor area of about 3,900 square meters that will be operated under the Quartillion brand. Its completion is scheduled for Q4 2025.
Pepijn Morshuis, CEO of Trei, commented: “Lotsenhof is the first project in Germany that Trei has handled in an exit developer role. Given the scope of our German development pipeline, we could well imagine selling some developments in the future, as well developing some projects in joint ventures with external capital partners in order to accelerate implementation of the pipeline.”
The wider locality, which is the former customs port of Mainz on the Rhine, is being developed into a new urban quarter that will include residential properties, offices, retailers and gastronomy units in an attractive riverside location. The Lotsenhof complex represents one of two construction projects that Trei is engaged in at the Zollhafen locality: It occupies the Hafeninsel III development site of 5,945 square meters, which is surrounded by man-made canals. On the adjacent development site, Hafeninsel II, the Fischerhof with 88 apartments is being built, which will be completed in the second quarter of 2024 and is part of Trei's portfolio.
The Quartillion in Wiesbaden is the second student housing development to be developed by Trei, the first iteration of the Quartillion brand having been completed in Cologne in 2017. The apartments will measure between 17 and 33 square meters, will be fully furnished and equipped with a fitted kitchenette, and will each have its own bathroom. They will be let for an all-inclusive rent and come with a wide range of amenities, such as broadband internet access. Community facilities to be shared by the tenants include common areas, a laundry room and a roof terrace. A Netto food market will be moving into the ground-floor premises.