Real estate investor for shopping centers – Pro Concept buys shopping centers

Real estate investor for shopping centers

The rolling mill in Ludwigshafen was originally in fact a large industrial mill located on the Rhine. In 1998 it was converted into a shopping centre with additional office space. Now the shopping part of the building complex has been sold to Pro Concept, a Mannheim-based investor. The investor mentioned in this article is also part of our List of the largest property investors in Germany.

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Mannheim real estate investor buys in Ludwigshafen

The rolling mill is centrally located directly in the vicinity of Ludwigshafen railway station at the Rhine bridge to Mannheim. However, the shopping center is largely empty. The previous owner wanted to turn it into a local shopping centre under the name “Lou”. The Walzmühle has already been struggling with considerable vacancies for years. It is not known whether the new owner will continue with the concept or has plans of his own. The situation is completely different for the office space in the Walzmühle. These are more than 90 percent rented. Here there was already a change of ownership last year. The Canadian REIT Dream Global acquired the space for 16.6 million euros. Mannheim-based Pro Concept AG was founded in 1997 and makes real estate investments of various kinds. Revitalization is one field of activity. The company has already successfully implemented several projects in the Ludwigshafen-Mannheim area. The focus was and still is on residential complexes. Another current Pro Concept in Ludwigshafen is the planned construction of 328 apartments on the site of the former Pfalzwerke. Together with another investor, a total of 868 apartments will be realized here. Source: Rheinpfalz
Picture source: Unsplash

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