DERECO is a major German real estate multi family office. The Cologne-based firm recently announced the sale of the “Eschbach Karree” in Bad Homburg, a German town with approximately 50,000 inhabitants. DERECO seems to use the momentum of the German real estate market: the multi family office already sold three properties this year.
Multi-Residential Building “Eschbach Karree” Sold To Institutional Investor
The “Eschbach Karree” consists of 32 apartments and a 3,000 sqm retail property. In 2015, DERECO acquired the building from the Schoofs Immobilien GmbH through a forward deal. In 2018, the family office has taken over the building for occupancy. DERECO sells the property fully let. TaylorWessing and the asset manager IAM Immobilien advised on the sale. The purchase price remains undisclosed.
DERECO Multi Family Office Already Sold Three Properties In 2019
The real estate multi family office DERECO is managing real estate investments and assets for single family offices. In total, the company has €1.1B assets under management and acquires around €100M new real estate for its client portfolios per year. In 2019, DERECO already sold three objects: the “DreiEins” office building in Dusseldorf was sold to Swiss Life, a high street property in Detmold was sold to Deka Immobilien and now the “Eschbach Karree” to an undisclosed institutional investor. It seems that the cologne multi family office is taking advantage of the all-time highs on the real estate market on behalf of its clients.
Picture source: Helloquence
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