Press release - Net Zero Properties acquires more than 600 residential and commercial units, primarily in Düsseldorf and Cologne
English translation of the German press release published on 18 December 2025:
Luxembourg, 18/12/2025 – Net Zero Properties S.A. (NZP), a portfolio company of ZAGA Capital Partners and exclusively advised by investment manager ZAR Real Estate, has acquired a predominantly residential portfolio comprising more than 600 units, located mainly in prime areas of Düsseldorf and Cologne. The seller is a private individual who wishes to remain anonymous. The purchase price has not been disclosed.
With this acquisition, NZP strengthens its presence in Germany’s A-cities and continues to pursue its growth strategy with consistency and focus. The portfolio complements NZP’s existing approach of creating long-term value through active asset management, targeted capital expenditure and sustainable modernisation—for the benefit of both tenants and investors. On a like-for-like basis, the existing portfolio is targeting rental growth of approximately 3.5% in 2025, while re-lettings are achieving average rental uplifts of around 20%. Following the recent completion of a portfolio acquisition in northern Germany, NZP’s total portfolio has now grown to well over 15,000 units. The current transaction underlines NZP’s ability to act decisively in a challenging market environment and demonstrates its clear ambition to actively develop portfolios with long-term potential.
“The portfolio combines attractive micro-locations with a profile that fits our investment approach exceptionally well. We focus on stable cash flows, operational feasibility and a value-creation programme that consistently enhances the quality and future viability of the assets,” says Andreas Hägele, Chief Investment Officer of ZAR Real Estate.
In parallel with the growth of assets under management, ZAR Real Estate is also strengthening its operating platform. The asset management team led by Marc Sesterhenn has been reinforced in recent months by Jonas Spieker, David Pijowczyk, Julian Gerigk and Marco Bialas. This expansion creates additional capacity to efficiently implement integration and development measures across the portfolio and to further scale the high standard of management quality.
“Expanding our team is a key pillar in delivering our ambitious Manage-to-Green strategy with both speed and consistently high quality,” says Martin Hofmann, Chief Executive Officer of ZAR Real Estate. “Our new colleagues significantly enhance our operational strength in asset management, enabling us to scale measures effectively and achieve our goal of upgrading all assets in the portfolio to energy efficiency classes A or B within a short timeframe.”
About Net Zero Properties S.A.
Net Zero Properties S.A. is a Luxembourg-based real estate group focused on the ownership and management of residential properties in densely populated regions of Germany. Through targeted investments in energy generation infrastructure and the use of advanced technologies such as heat pumps, photovoltaic systems and sub-metering solutions, the company aims to achieve significant savings and materially improve the energy efficiency of its buildings. In many cases, these measures are sufficient to deliver a net-zero balance even for older existing properties.rnFurther information on Net Zero Properties S.A. is available upon request or at www.n-z-p.com
About ZAGA Capital Partners
ZAGA Capital Partners Ltd. is a London-based private equity firm specialising in opportunistic and value-add real estate investments across Europe, with a particular focus on the German market. The firm selectively identifies investment opportunities in special situations as well as ESG-oriented strategies, pursuing an entrepreneurial approach combined with institutional investment expertise.rnFurther information on ZAGA Capital Partners Ltd. is available upon request or at www.zagacap.com