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TR Mannheimer Parkhausbetriebe GmbH (MPB) is acquiring the parking garage in Mannheim's N7 square from the Heinrich Vetter Foundation as of 01.08.2024.
The parking garage, still known to many as the Kaufhof parking garage for the now demolished department store and as the former "Kaufhaus Vetter" on the corner of N7, was built in 1966 and, together with the department store complex, belonged to the former Mannheim merchant Heinrich Vetter. After his death, the properties were transferred to the "Heinrich Vetter Foundation", which was founded in 1997 and has managed them ever since, using the rental income to promote activities for the benefit of Mannheim and its inhabitants.
MPB had been interested in taking over the 363-space parking garage for some time. However, this has so far failed due to the foundation's long-term rental agreements with the Kaufhof Group. However, these could be terminated, giving MPB the opportunity to acquire the property, which also includes four commercial units with fixed leases.
After the supervisory boards of the parking garage operators and their parent company Mannheimer Kommunalbeteiligungen (MKB) gave the green light for the financing and purchase of the property this week and last week respectively, the final details were clarified and the purchase agreement was signed.
"We are delighted to have found a competent buyer for the property in MPB, a municipal company with over 60 years of experience in parking. In our view, this guarantees competence and continuity for the management of the parking garage and thus reliability for parking customers now and in the future," says Prof. Dr. Peter Frankenberg, Chairman of the Vetter Foundation.
Carsten Südmersen, CEO of MPB, is no less pleased about the deal. "We would like to thank those responsible at the Vetter Foundation, in particular Prof. Dr. Frankenberg and Commercial Director Wolfgang Loos, for the trust they have placed in us and the successful and smooth contract negotiations for both sides, as well as, of course, a big thank you to our Supervisory Board members, who support the parking lot operators with regard to their strategic mobility goals and ensure that there are still enough parking spaces for visitors and customers in Mannheim city center," says Südmersen.
In addition to the purchase price, the parking garage operators will invest a mid seven-figure sum over the next four years in the refurbishment and upgrading of the parking garage. "In addition to the digitalization of the parking technology, the focus here is on the renovation and upgrading of the building and its technology," says Marcus Springer, the second Managing Director of MPB, explaining the upcoming tasks. "The advanced age of the property requires more than just a cosmetic coat of paint, as is clear from the expert opinion already available on the need for refurbishment," concludes Springer. The transaction was accompanied by the consulting firm CENTURION Advisors GmbH & Co KG from Hamburg.
Mannheim, 18.07.2024
Carsten Südmersen
Mannheimer Parkhausbetriebe GmbH
C 1, 13-15
68159 Mannheim
Tel. 0621 / 15 895 - 57
suedmersen@parken-mannheim.de