Aberdeen Asset Management has acquired a residential and commercial building project in the south-western German city of Mainz for €66 mln.
Aberdeen Asset Management has acquired a residential and commercial building project in the south-western German city of Mainz for €66 mln.
The 18,500 m2 turnkey development is located on Rheinallee in Mainz’s Zollhafen quarter and was acquired by Aberdeen for a special fund forward purchase transaction. The vendor was Austrian-listed CA Immo.
CA Immo anticipates that the planning application for the building will be submitted in spring of this year, so that construction can start in the first quarter of 2016. Completion of the building is scheduled for mid-2018.
