ZAR Real Estate Holding: Expansion in Nuremberg Metropolitan Region
Munich, 28 April 2022 – ZAR Real Estate Holding is continuing its expansion course. For the first time, the company is acquiring a property in the Nuremberg metropolitan region and, at the same time, is bringing on board a strategic partner for potential future developments in the region in the form of the P&P Group.
As ZAR Real Estate Holding announces, it has purchased the former Metz site in Zirndorf near Fürth. The former company site of the tradition-rich Metz company is around 85,000 square metres in size and is located in an attractive suburban location on Ohmstraße. The space is currently used by various tenants as office and storage space.
The future project development will be carried out by ZAR Real Estate Holding together with the P&P Group. The real estate investor with almost 30 years of history realises complex portfolios in the residential, office and retail segments. In Fürth, where the headquarters of the P&P Group is also located, the company has already made its presence felt several times through the renovation and marketing of buildings, some of which are historically significant, but also through new buildings. “With the P&P Group, we were able to gain a strong partner with many years of experience and know-how about the local conditions. We are looking forward to the cooperation and plan to expand it further in the future,” says Daniel Argyrakis, CFO and Managing Director of ZAR Real Estate. From the point of view of Michael Peter, founder and managing director of the P&P Group, the cooperation fits into the strategic further development of his company into a holistic investment platform: “In terms of a partnership approach, we can contribute our practical expertise here and contribute to sustainable growth in the Nuremberg metropolitan region.”
According to current plans, ZAR Real Estate Holding envisages a mixed-use neighbourhood development with a focus on residential. In doing so, the company attaches importance to close coordination with the municipality and the citizens. “The former Metz site has the potential to be transformed into a forward-looking new Zirndorf district. This is what makes the task so exciting for us and is in line with our goal of creating sustainable and viable living space for future generations in Germany,” says Martin Hofmann, CDO and Managing Director of ZAR Real Estate Holding. The GDV for the entire site is stated at 450 million euros.