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Joint venture of Pegasus Capital Partners and Art-Invest Real Estate sells former GfK property for ecological new building project

UmweltBank has acquired the former GfK site on Nuremberg's Nordwestring. The company is planning an ecologically and socially sustainable urban quarter with housing, a daycare center, commercial space and public green areas. The new headquarters of the green bank will also be part of the quarter. The previous owner, a joint venture of Pegasus Capital Partners and Art-Invest Real Estate, had already developed an urban development concept in recent years and coordinated it with the City of Nuremberg. UmweltBank would like to further develop this concept in line with its own requirements in close cooperation with the city.

Having already acquired part of the site at the corner of Nordwestring and Bielefelder Straße last year for the construction of its new headquarters, UmweltBank has now purchased the entire former GfK site in a second step. "We deliberately chose this location for our headquarters because it has excellent public transport links and, with the site already developed, we are avoiding further land consumption," explains UmweltBank Board Member Goran Bašić. "It is a real stroke of luck that we now get the opportunity to also design the area around our building as a green piece of Nuremberg."

Dr. Matthias Hubert, Managing Partner of Pegasus Capital Partners adds: "The Nuremberg metropolitan region is and remains one of the strongest economic areas in the entire Federal Republic. Through the urban development concept developed together with Art-Invest Real Estate at the former GfK site, we have created excellent foundations for the development of a modern ecological urban quarter."

Liveable living and working environments for the north of Nuremberg
The planning for the new quarter is still in its infancy: UmweltBank is currently reviewing and evaluating the status of the plans to date for opportunities for further development. The aim is to build a sustainable and liveable urban quarter in accordance with high ecological and social standards. Plans include social and affordable housing as well as housing for students, a daycare centre, commercial space and public play and green areas.

"We are looking forward to the future development of the quarter and are excited to see how UmweltBank will shape the district in the long term with its corporate philosophy and focus on innovation and sustainability," said Tobias Wilhelm, branch manager of Art-Invest Real Estate in Munich.

A Europe-wide architectural competition is currently underway for the new UmweltBank building. The results will be published at the beginning of October. Ecological aspects in particular play an important role in the awarding of prizes, such as the use of renewable raw materials and renewable energies as well as the recyclability of the building materials used. The best designs and the winning model will be on display in the UmweltBank foyer on Laufertorgraben from mid-October.

About Art-Invest Real Estate
Art-Invest Real Estate is a long-term oriented investor, asset manager and project developer of real estate in good locations with value creation potential. The focus is on metropolitan regions in Germany, Austria and Great Britain. Art-Invest Real Estate pursues a "Manage to Core" investment strategy with institutional investors, selected joint venture partners as well as with its own capital. The range of investments spans the entire return and risk spectrum in the office, city centre retail, hotel, residential and data centre sectors. In total, Art-Invest Real Estate currently manages real estate assets of around €6 billion.

About Pegasus Capital Partners GmbH
Pegasus Capital Partners is a real estate investment specialist based in Erlangen. In addition to providing equity or equity-replacing funds (mezzanine capital), Pegasus supports projects in new construction and portfolio development. To date, Pegasus has more than 40 project investments with a total volume of around two billion euros. The focus is on project and portfolio developments in the German metropolitan regions, economically prosperous B-regions, southern Germany and the Austrian capital Vienna.

About UmweltBank AG
UmweltBank is an independent private bank owned by around 12,000 shareholders. For more than 20 years, it has combined finance with ecological and social responsibility. It has committed itself to environmental protection not only with its name, but also in its articles of association. At no other bank can investors put their money to work in such a consistently environmentally friendly way. Germany's greenest bank has already financed over 23,500 environmental projects with low-interest development loans.

At UmweltBank, relieving the burden on nature and financial success are equally important goals. This is why it regularly publishes its results in an integrated sustainability and annual report. The company measures its success not only in terms of key economic figures, but also in terms of the CO2 emissions saved by financing innovative environmental projects.

Source: PM of UmweltBank Nuremberg from 22.9.2020

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DE-News, News Blog Bavaria, Mix of uses, Quarters