Vienna: Hamburg Trust acquires two parts of Quartier4 in Graz from C&P Immobilien AG
Hamburg Trust acquired two of four planned construction units in Graz’s Quartier4, a major project being undertaken by the Styrian real estate developer C&P Immobilien AG in the Straßgang district. These were bought for two institutional funds. The transaction was overseen locally by GalCap Europe.
(Vienna, 10 December 2019) – Investment and fund manager Hamburg Trust has acquired two of the four sections of the “Quartier4” residential complex in the Straßgang district of Graz. The seller is the Styria-based C&P Immobilien AG. The ground breaking ceremony for the two construction units, with nearly 14,400 square feet of residential floor space, was held on October 22, 2019.
Under the motto “Living Diversity”, around 700 apartments, an underground car park with around 360 parking spaces and generous green spaces will be created across the entire site. The 329 flats in the first two units are between 33 m2 and 79 m² in size and will be equipped with balconies, terraces or loggias. Quartier4, impresses with a spacious inner courtyard and around 9,000 m² of green areas, paths, walkways, playgrounds and a public square of around 1,800 m². Generously designed commercial areas of approx. 1,600 m² for local suppliers round off this innovative project for both residents and neighbours.
The Styrian capital of Graz, with a population of around 280,000, is the fastest growing city in Austria in percentage terms. With good transport connections, the southern districts such as Straßgang and Puntigam are increasingly developing into sought-after residential locations. With approximately 60,000 students, Graz has also been a recognized centre of education, science and research for years. A strong focus on promising technologies such as energy and environmental technology, mobility and human and biotechnology ensures the city’s recognised position as an up-and-coming business location.
“Quartier4 is the next urban development showcase project in Graz after the Puntigam Brewery Quarter. Optimal floor plans with high quality features and lots of green space were some of our basic requirements for a functioning investment housing project. We are very pleased that we are able to place the project so well on the market, and individual sales are also going extremely well,” says Andreas Grabner, CEO of C&P Immobilien AG.
“The rental housing market in Graz offers extremely attractive investment opportunities,” says Florian Howe, Managing Director of Hamburg Trust. “The increasing demand for quality living space and the moderate purchase prices compared to the residential markets of comparable German cities justify our strong commitment to the Styrian capital.”
Dr. Manfred Wiltschnigg, Managing Partner of GalCap Europe, adds: “We were able to secure a rock-solid project development in an up-and-coming residential location in the south of the city for our partner Hamburg Trust with the two construction units at Quartier4 in Graz. This involved C&P as a renowned project developer responsible for the quality of execution and the timely completion of the residential complex. Together with Hamburg Trust, we intend to make further acquisitions in the near future and rapidly expand the targeted portfolio.”
Hamburg Trust was advised in this transaction by Mag. Arabella Eichinger, Schönherr Rechtsanwälte GmbH. Legal support was provided to the seller C&P Immobilien AG by Dr. Martin Gärtner, Scherbaum-Seebacher Rechtsanwälte.
Further comprehensive information can be found on the project homepage www.q4.at
About C&P Immobilien AG:
C&P Immobilien AG was founded in 2006 and develops, sells and manages apartments. Purchasers are primarily investors looking for income or additional income from renting out apartments they have purchased. C&P has been Austria’s leading provider of apartments for rental and private purchase since 2011. The company headquarters is in the Brewery Quarter in Puntigam, Graz. It employs around 100 staff at a total of four locations (Graz, Vienna and Klagenfurt in Austria and Berlin in Germany). Further information is available at www.cp-ag.at.
