RQI Immobilien AG, a real estate investor specialising in portfolio optimisation, portfolio development and use conversion, has acquired a residential conversion project in Frankfurt-Rödelheim together with Frankfurt's Westend Bank AG. The transaction, conducted through the joint venture “RQI Smart Living in Frankfurt”, concerns the property at Niddagaustraße 42. The total project volume is estimated at approximately 50 million Euros.
The subject of the acquisition is a conversion of a former office property that had already begun but was interrupted due to the insolvency of a project developer. The property comprises a gross floor area of approximately 8,400 square metres and is to be further developed into a residential complex with over 100 units. The use concept envisages a differentiation into micro-apartments, serviced apartments and townhouses to address various housing needs in the Frankfurt market. Marketing is scheduled to commence in spring 2028.
Strategic Orientation and Partnership
With this acquisition, RQI continues its investment strategy, which is focused on special situations, restructurings and value-enhancing portfolio developments. The focus is on properties that present complex challenges due to their technical, economic or legal initial situations, but whose potential can be unlocked through integrated management of acquisition, financing, development and marketing. The transaction underlines RQI's expertise in implementing challenging real estate investments together with capital partners, even in a difficult market environment.
Professor Dr. Nico Rottke, Chairman of the Board of RQI Immobilien AG, stated that the acquisition, restructuring, completion, leasing and sale of an interrupted project development originating from insolvency proceedings is one of the most demanding tasks in the industry and represents RQI's core competence. Westend Bank AG, a subsidiary of the Hopp Family Office, is expanding its existing cooperation with RQI through this initiative.
Thomas Rosenfeld, Chairman of the Board of Westend Bank AG, emphasised that RQI contributes extensive expertise in the restructuring and development of demanding existing properties, which ideally complements the bank's financing and structuring competence. Both partners see considerable potential in this cooperation for jointly developing further investment opportunities. The transaction was legally advised by the commercial law firm Arnecke, Sibeth, Dabelstein.
Potentials of Portfolio Development
With the planned development in Frankfurt-Rödelheim, the joint venture is pursuing an approach aimed at transforming existing building stock into long-term marketable residential space. By combining various forms of housing, a broad target group is to be addressed and the demand for compact, flexible and urban housing options in the Rhine-Main region is to be met. This project is exemplary of RQI's investment strategy to identify properties in economic or structural special situations, redefine their use prospects, and sustainably position them in the market through targeted value-adding measures.
