Current investments
"HL Invest neustädter, Giessen"
Public AIF - Real estate investment for private investors
Note
This is a marketing advertisement. Please read the prospectus with possible supplements and the key information document before making a final investment decision.
The forecasts and scenarios presented are estimates of future performance based on current market conditions and are not an exact indicator. How much investors actually receive depends on how the market develops and how long they hold the fund unit. Future performance is subject to taxation, which depends on the investor's personal situation and may change in the future. The investment may result in a financial loss as there is no capital guarantee.
Highlights
- Urban supply center in a central downtown location in Giessen
- Attractive purchase factor at 10.4 times the annual rent
- Planned payout of around 7.0 % p. a.
- Projected total return on investment approx. 178.5 % with a planned term of 10 years
- Multi-tenant structure with more than 60 tenants, resilient sector mix
- Extensive revitalization with investments of over EUR 40.0 million, completed in 2025
Semi-annual scheduled payment
Issue capital
Forecasted total cash flow*
Various tenants
*between approx. 129 % - 216 % (middle scenario 178 %)
Brief overview
Macro and micro location
Giessen is very well connected to the Rhine-Main region with Frankfurt am Main and the international airport. The city is a "traffic hub" without through traffic, as it is surrounded by a ring road. The so-called "Gießener Ring" consists of the A480 and A485 federal highways and the B429 and B49 federal highways running in the western part. The investment property is centrally located within the city center of Giessen and, having been on the market for twenty years now, is an established supply location in the inner-city location structure and is well connected to the pedestrian zone. Eight bus lines also stop directly at the west entrance and the Giessen-Oswaldgarten train station is right next to the property.
The property
The urban supply center with parking, fitness, daycare, health, shopping and offices was built in 2005 and has been extensively revitalized in recent years at a cost of more than 40 million euros. The neustädter combines modern, weather-independent shopping with convenient parking facilities in the largest inner-city parking garage in Gießen. Spread over three floors, neustädter offers everything an urban shopping center needs.
The letting
The property is let to around 60 tenants. Many of the anchor tenants have been located in neustädter since it opened in 2005. Overall, all anchor tenants have been in the property for at least five years (with the exception of the new leases signed by Apcoa on 01.01.2026 and Decathlon on 15.07.2025), which demonstrates the high level of tenant loyalty.
The top 10 tenants will then account for around 67% of total rental income. Around 25% of rental income is generated with the parking garage operator Apcoa, which has concluded a rental agreement until 31.12.2037. The average lease term of the top 10 tenants is around 8.6 years (as at 01.01.2026).
A day in neustadt
Documents for download
Risk warnings
This risk information is merely an abridged overview. A detailed description of the risks can only be found in section 5 "Risk information in the sales prospectus".
Maximum risk: There is a risk of complete loss of the capital contribution plus ancillary costs. In addition, payment obligations (e.g. taxes, equalization obligations or from external financing) can jeopardize the investor's other assets and, in extreme cases, lead to insolvency.
Market and valuation risks:
Fluctuations in the value of real estate can be caused by vacancies, rent losses, changes in location or unforeseeable maintenance costs. Changes in tax law can also affect income.
Credit risks:
The debt financing of the property company must be serviced independently of its income. Payment defaults can lead to payment freezes, termination or foreclosure. While a positive development increases the return, ongoing interest and redemption payments increase losses (leverage effect).
Insolvency risk / lack of deposit protection:
The AIF may become insolvent in the event of insufficient income or increased expenses. There is no deposit protection.
Counterparty risks:
Risks include the failure to place the limited partner's capital, rent defaults, vacancies, disputes with tenants and non-fulfilment of contractual obligations by sellers or contractual partners. These can lead to the dissolution of the AIF.
Operational and tax risks:
Unforeseeable construction defects, legacy issues, conflicts of interest, the loss of key personnel or changes to the tax and regulatory framework may adversely affect the AIF.
Shareholder risks:
This is a long-term investment without the possibility of redemption. There is no regulated secondary market. In addition, there are limited transfer options and liability risks (external and internal liability), particularly in the event of disbursements not covered by profits.
Conversion of the legal form of the property company:
The property company has not yet been converted into a legal form suitable for the acquisition. Delays or deviating structures may have tax consequences, among other things. Please refer to the detailed description in the sales prospectus.
Image sources: © Riese Photo & Video Production
