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Urban Ideation Lab develops circular urban districts
September 14, 2022
Berlin, September 22, 2022. Berlin-based Draba Grundbesitz GmbH & Co. KG has acquired a residential portfolio in the Stuttgart area from two companies within the COPRO Group. The sellers were COPRO Grundbesitz GmbH & Co. KG and COPRO Kaiserbau GmbH & Co. KG.
This restructuring transaction comprised a total of four apartment buildings, including the Kaiserbau, a listed historical monument located on Stuttgart's Marienplatz. All properties will remain in the ownership of the Kimmich family after the transaction. In connection with this acquisition, a total of seven COPRO Group properties were refinanced by four cooperative banks in Baden-Württemberg for a mid-double-digit million euro sum.
This restructuring measure encompassed a total of four multi-family buildings, including the listed Kaiserbau building on Stuttgart's Marienplatz. Marc F. Kimmich, Managing Director of Draba Grundbesitz: “Thanks to the excellent collaboration with our financing partners, led by Volksbank am Württemberg eG, Vereinigte Volksbanken eG, Volksbank Ulm-Biberach eG, and Volksbank Plochingen eG, we were able to complete this complex refinancing in a challenging financing environment, demonstrating a high degree of partnership and reliability from the banks.”
Draba Grundbesitz was advised by the Stuttgart-based law firms Ebner Stolz and GHR Goerg Hunstein. Founded in December 2021 as a housing company, Draba Grundbesitz GmbH & Co. KG has thus laid the foundation for its own portfolio and plans to acquire further portfolios and individual residential properties throughout Germany.
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