Trei Real Estate GmbH (“Trei”), an international developer and asset holder, sold its Fischerhof residential development at the Mainzer Zollhafen site in Mainz to a single family office managed by Berenberg Real Estate Management GmbH. The two parties agreed not to disclose the selling price. The property, which was completed in July 2024, divides into 88 modern rental apartments with a combined residential area of about 6,500 square meters and is fully occupied.
Pepijn Morshuis, CEO of Trei, commented: “Following the completion of the Lotsenhof development next door, Fischerhof is now the second project we successfully concluded as exit developer at the Mainzer Zollhafen site. In addition, we managed to sell three residential developments we completed in Berlin to MEAG last year. While real estate we developed in the past used to be earmarked for our proprietary portfolio, the option to dispose of further property developments in the future is now quite conceivable to us.”
The new urban quarter under development at the former customs port of Mainz is grouped around a port basin of around eight hectares next to the Rhine. Fischerhof represents one of two construction projects that Trei is engaged in at the Zollhafen locality: The other property, called Lotsenhof, occupies the adjacent development site and provides 95 apartments. This project was sold to Competo Capital Partners GmbH, an investment and asset manager, in 2022 and handed over after its completion in January 2024.
In Germany, Trei currently has around 1,150 rental apartments under development, the projects being located in Berlin, Hamburg, Munich, Düsseldorf and Wiesbaden. “Our decision regarding the question how long to keep these assets in our portfolio or whether the time has come to sell them to interested investors will depend on the way the market is trending,” Morshuis added.
Real estate service provider CBRE acted as estate agent on behalf of Trei during the Fischerhof sale. Legal counsel was provided by the Dentons law firm.