"Identifying potential – developing value.”
"Identifying potential – developing value.”
+49 6151 520 55 86
info@heurekadev.de

HEUREKA REAL ESTATE

Heureka Real Estate (Heureka) is an owner-managed developer of real estate projects and real estate investor in the Rhine-Main region.

“(H)eureka!”
With this exclamation, Archimedes (mathematician, ca. 287-212 B.C.) leapt out of his bath after he had discovered the principle of buoyancy. He is said to have been so eager to share his discovery with others that he ran euphorically through the streets of Syracuse.

“(H)eureka!” is both the name and the philosophy of our company Heureka Real Estate GmbH. The term aptly symbolizes our way of working: successfully confronting a complex task and enthusiasm when a solution has been found.

Our philosophy is based on bringing together the elementary factors – location, capital, and idea – to create interesting project configurations.

As developers we are operating in a dynamic market, in which it is crucial to free ourselves from rigid specifications and to search for new solutions.

Our focus is on innovative properties in attractive locations. In this way, Heureka is creating modern working and living environments that become oases of well-being in urban areas.

Heureka was founded in 2008. The projects currently under development have a total volume in excess of EUR 100 million.

Heureka Real Estate acquires site in Heidelberg for hostel project

A Heureka Real Estate GmbH (Heureka) project company has acquired a 1,300 square metre site in the Weststadt district of Heidelberg, very close to the central railway station. The vendor is Kommunalprojekt ppp AG. ReedSmith acted as advisor to the purchaser.

Although the hospitality industry has been hit particularly hard by the negative effects of the Corona pandemic, the experienced Darmstadt-based developer is planning to construct a five-storey hostel with 112 rooms, providing a total of 320 beds. Construction is scheduled to start in mid-2022.

a&o Hostel GmbH, Europe’s largest privately-run hostel chain with 40 hostels in 24 cities, has already signed a 20-year contract to operate the new facility.

Robert Waidhaas, Managing Director of Heureka, comments: “Even in this very difficult time for the hotel industry, we at Heureka remain committed to our slogan Identifying potential – developing value’. Particularly in this challenging situation, we are confident that well-positioned and experienced market players like us are optimally placed to identify and exploit existing opportunities. What’s more, Heidelberg, one of the best-known tourist hotspots in Germany, is experiencing high demand from both users and operators. It remains in the focus of the real estate investors.”

Heureka has a track record boasting numerous projects successfully implemented and sold in the Rhine-Main region in recent years.

Copyright Foto: a&o Hostels GmbH

Heureka Real Estate acquires Frankfurt office building for conversion to short-term rental apartments

Heureka Real Estate GmbH (Heureka), Darmstadt, acquired an office building, at Eschersheimer Landstrasse 105-107 in the Frankfurt Westend, from Barings Real Estate. The company plans to convert the seven-floor building, situated close to the Banking District, to an ‘Apartmenthaus’ (apartments for short-term rental). Planning consent has already been granted.
Reed Smith Rechtsanwälte advised Heureka on the transaction. Co-investor of the project development is PRIMUS Vermögensverwaltungs GmbH with its managing director Lars Borghaus.
It is planned to create 77 furnished apartments, having a total residential floor area of 2,349 square metres, with 11 underground parking spaces and 81 cycle stands in the basement. The individual residential units, which will be fitted out to a high standard, will range from 20 to 50 square metres in floor area.
Construction is scheduled to start during 2020. Lars Borghaus has been appointed as managing director of the project company responsible for the conversion works. After completion of the project, it is planned to sell it to an investor.
Robert Waidhaas, managing director of Heureka and also a director of the project management company, comments: “With this latest acquisition, we are enhancing the Frankfurt market by adding a unique residential property in the business apartment segment. Due to its location and facilities, it will attract a demanding tenant clientele looking for temporary accommodation”.
Heureka has a track record of numerous successfully implemented projects in the Rhine-Main region in recent years.