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DGAP-Media / 2019-02-28 / 15:05
*Instone Real Estate and OFB Celebrate Topping-out Ceremony for 151
Condominiums at "Wilhelms IX" Residential Quarter*
*- *_Shell and core of nine townhouses completed_
_- Over 70 percent of the condominiums already sold_
_- Scheduled to be ready for occupancy by late 2019_
_- Prime location in the heart of Wiesbaden_
*Essen/Wiesbaden, 28 February 2019: *Instone Real Estate and OFB
Projektentwicklung, together with Hans-Martin Kessler, Head of the Municipal
Department of Urban Planning and Construction, celebrated the topping-out
ceremony for 151 condominiums that are under development at the "Wilhelms
IX" residential quarter. More than 70 percent of the units have already been
sold. The keys to the 151 flats will be handed over in late 2019 as planned.
Hans-Martin Kessler, Head of the Municipal Department of Urban Planning and
Construction, commented: "Against the background of the sustained
demographic growth in the state capital of Wiesbaden, the 'Wilhelms IX'
residential quarter with its 151 apartments makes a significant contribution
to Wiesbaden's housing stock that is urgently needed. We are pleased to see
that the work is making such rapid progress and that a vibrant quarter will
soon take the place of the former multi-storey car park."
Ralf Werner, Head of the Rhine-Main Branch at Instone Real Estate, has this
to say: "The keen demand, especially the demand originating right here in
Wiesbaden, confirms the appeal of our neighbourhood concept. 'Wilhelms IX'
offers modern home amenities and park-like greenery in a core location. This
is a quality that, while in itself attractive, takes the residential
preferences of different age and social groups into account to deliver a
balanced mix in the quarter. Meanwhile, the construction work is right on
schedule."
Klaus Kirchberger, CEO of OFB Projektentwicklung GmbH, added: "It all
started with the idea of creating an attractive residential quarter in
Wiesbaden. Together with our partner Instone Real Estate, we turned this
idea into reality and can now celebrate the topping out of the nine
townhouses. These blend harmoniously with the architecture of downtown
Wiesbaden, which is characterised by Belle ??poque buildings. We should like
to seize the occasion of the topping-out ceremony to thank all of the
stakeholders for their great cooperation."
The 151 condominiums are being developed, along with 171 parking spots, on a
property of around 10,000 square metres. The flats have footprints of 50 to
around 195 square metres and divide into two to six bedrooms. The
architectonic design was commissioned from the local architectural firm of
BGF+ Architekten. Each of the nine buildings will have a bespoke façade made
of natural stone, render and brick. The "Wilhelms IX" residential quarter,
with clear ceiling heights between 2.70 and 3.80 metres, sits amid park-like
greenery and features proprietary underground parking spots including
e-mobility outlets. Particular highlights are the penthouse apartments,
which come with dedicated lift access.
*About Instone Real Estate (IRE)*
Instone Real Estate is one of Germany's leading residential developers and
is listed in the Prime Standard at the Frankfurt Stock Exchange. The company
develops attractive multi-family and residential buildings as well as
publicly subsidized housing, designs modern urban quarters and refurbishes
listed buildings for residential use. Buyers are mainly owner-occupiers,
private investors and institutional investors. In 27 years, Instone Real
Estate has successfully developed more than one million square metres. More
than 320 employees work at eight locations nationwide. As of 30 September
2018, Instone Real Estate's project portfolio comprised 45 development
projects with an expected total sales volume of roughly EUR 3.6 billion and
more than 8,900 units.
*ABOUT OFB*
Domiciled in Frankfurt am Main, OFB is one of the leading full-service
companies for the project development and construction management of
commercial properties in the Rhine-Main metro region, and maintains branches
in Berlin, Erfurt, Kassel as well as offices in Munich, Düsseldorf and
Leipzig. Being a subsidiary of Landesbank Hessen-Thüringen (Helaba), OFB is
part of the Helaba group of property companies. OFB has 60 years of
experience in the real estate sector. The company's service spectrum extends
from project developments-pursued at its own risk or on behalf of third
parties-to site development, and all the way to lead consultancy. In this
line of work, the company focuses consistently on the coordinated
interaction of economic, environmental and social components. This includes
seeking certifications for virtually all new buildings the company develops
that are innovative and exemplary in their respective categories. For more
details go to www.ofb.de
*Press Contact*
Instone Real Estate
c/o RUECKERCONSULT GmbH
Michael Lippitsch
Wallstrasse 16
D-10179 Berlin
Tel.: +49 (0)30 284498747
Fax: +49 (0)30 284498799
E-mail: instone@rueckerconsult.de
OFB Projektentwicklung GmbH
Yvonne Keller
Speicherstrasse 55
D-60327 Frankfurt am Main
Tel.: +49 69 91732-116
E-Mail: yvonne.keller@ofb.de
End of Media Release
Issuer: Instone Real Estate Group AG
Key word(s): Real estate
2019-02-28 Dissemination of a Press Release, transmitted by DGAP - a service
of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Instone Real Estate Group AG
Grugaplatz 2-4
45131 Essen
Germany
Phone: +49 201 453 550
E-mail: ir@instone.de
Internet: www.instone.de
ISIN: DE000A2NBX80
WKN: A2NBX8
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart,
Tradegate Exchange
End of News DGAP Media
782373 2019-02-28
(END) Dow Jones Newswires
February 28, 2019 09:05 ET (14:05 GMT)
