Header Image Stock Development
North Rhine-Westphalia

Housing Stock

The housing stock in North Rhine-Westphalia with about 300 flats in the cities of Gladbeck, Marl, and Wickede was acquired in 2015 by a publicly-listed company. The holdings with a floor area of around 22,000 m² and a land area of approximately 49,000 m² had vacancy rates of between 13% and 23% per location when purchased. After extensive renovation and valorisation of the properties, the vacancy rate was reduced to less than 5%. After a 4-year development phase to revitalise the holdings and valorise the quarter, they were successfully sold to two long-term portfolio holders.

Project Information

Locations

Gladbeck
Marl
Wickede

Around 300

Flats

2015

Purchase

4-year

Development Phase

approx. 49,000 m²

Land Area

approx. 22,000 m²

Floor Area Stock

Status

Revitalisation/Quarter Valorisation
and Vacancy Reduction Successfully Implemented

Further Projects in Revitalization