Instone Real Estate and OFB: All residential units of Wiesbaden's Wilhelms IX project handed over

- Nine urban villas with 151 residential units and 171 underground parking spaces in total

- Valuable contribution towards creating residential space in central downtown location

- Successful project partnership between Instone Real Estate and OFB Projektentwicklung

Essen/Wiesbaden, 16 April 2020: Instone Real Estate, one of Germany's foremost residential developers and its project partner, OFB Projektentwicklung handed over the last residential units in Wiesbaden's Wilhelms IX residential project to buyers last Tuesday. Each of the 151 residential units in the nine urban villas that make up this modern urban quarter have thus been sold and are waiting for their new owners and tenants to move in.

Ralf Werner, COO Rhein-Main of Instone Real Estate Development GmbH, comments: "Our Wilhelms IX project allowed us to create much needed in-demand, quality living space in downtown Wiesbaden. The speedy sale of the owner-occupied apartments validates the appeal of this new neighbourhood which offers everything from an exclusive penthouse, to a stylish duplex and a mezzanine floor apartment with a garden, to a compact two-room apartment, to accommodate a variety of different lifestyles."

Klaus Kirchberger, Chairman of the Executive Board of OFB Projektentwicklung GmbH, adds: "We are pleased that this centrally located neighbourhood development has been completed, and the last residential units were successfully handed over. Together with Instone Real Estate we have created a modern interpretation of an exclusive residential area that perfectly blends in with its urban and architectural surroundings from the Gründerzeit."

151 owner-occupied apartments plus 171 underground parking spaces have been built on the roughly 10,000 square metres-large plot. The residential units are spread across nine urban villas which are characterised by a representative architecture. All units provide personalised access to the outdoors, either in the shape of a generous balcony or, as is the case for the ground floor apartments, a dedicated garden. Moreover, all residents can use the park-like greens in which the urban villas have been set. The elaborate design of the façade is further emphasised by the use of quality materials such as natural stone, sandstone and brick. Offering everything from two-room to six-room apartments of between 50 and around 195 square metres in size, the neighbourhood offers living spaces for singles, couples as well as families.

The Wilhelms IX residential project is situated right in the heart of Wiesbaden, in the immediate vicinity to its historic town centre and market square. The continued growth of the population in the capital of the Land of Hesse has led to a high demand for living space. According to the city's Statistical Yearbook, around 291,000 people lived in Wiesbaden at the end of 2019. This represents roughly a six per cent increase, or an additional 16,000 citizens compared to 2009.

About Instone Real Estate (IRE)

Instone Real Estate is one of Germany's leading residential developers and is listed in the SDAX. The company develops attractive multi-family and residential buildings as well as publicly subsidised housing, designs modern urban quarters and refurbishes listed buildings for residential use. Buyers are mainly owner-occupiers, private investors with an intention to let, and institutional investors. In 29 years, Instone Real Estate has successfully developed more than one million square metres. In total, 375 employees work at nine locations nationwide. As of 31 December 2019, the company's project portfolio comprised 55 development projects with an expected total sales volume of roughly EUR 5.8 billion and 13,715 units.

OFB: WE KEEP ON DEVELOPING

OFB Projektentwicklung GmbH has been in the property business for over 60 years. And we're just as committed now as we were at the outset. As a subsidiary of Landesbank Hessen-Thüringen and part of the Helaba Property Group, high-quality, sustainable real estate is our passion - as too are project development, project management and real estate management.

Working from our headquarters in Frankfurt am Main and our branch offices in Berlin, Erfurt, Kassel, Munich, Düsseldorf and Leipzig, around 180 staff manage successful property projects throughout Germany. We always want to achieve more than others - which is why we look at the interactions between economic, ecological and social components even when still at the planning stage. The aim is to keep our projects evolving, as well as ourselves.
www.ofb.de

Press Contact

Instone Real Estate
Michael Lippitsch
Wallstraße 16
10179 Berlin
Tel.: +49 (0)30 2844987-47
Fax: +49 (0)30 2844987-99
E-Mail: [email protected]

OFB Projektentwicklung
Daniel Gabel
Feldhoff & Cie. GmbH
Eschersheimer Landstraße 55
60322 Frankfurt am Main
Tel.: +49 69 2648 677 - 18
E-Mail: [email protected]
www.ofb.de