To better understand the functionality of our business we chose this building in an excellent location in the city. The project began in 2008, and permitted Rheingold to learn the laws and characteristics of acquisition procedures on the German market. The property consists of five apartments to be upgraded in an overall development and rehabilitation programme. Together with local operators, Rheingold went ahead with the realization of the reconstruction project with the aim of splitting the units and selling them on the retail market. With the approval of this interesting project and in the following eight months a local real estate company submitted an offer for the acquisition of the whole building, and Rheingold decided to realize this, with success.

The property was sold in 2009.