Stimulating figures regarding the activity of the MIMCO Capital Group

Despite the particular context of this year 2020 linked to the Covid-19 epidemic and the impact in the real estate industry, the MIMCO Capital group today reports a number of achievements.

The 2nd half of 2019 had been very dynamic for MIMCO Capital and already demonstrated the successful implementation of the group's strategy. Even if some projects have been delayed due to the health crisis, MIMCO Capital has been able to adapt and as of November 30th, 2020 and for the current year, the figures are stimulating:

  • The OCITY fund for real estate development in Luxembourg was launched this November 2020 in partnership with two Luxembourg real estate groups CREAHAUS and ESPACE INVEST for large-scale opportunities in Luxembourg, primarily in residential and office real estate. A first significant acquisition is being finalized in an attractive area of Luxembourg.
  • In 2020 and to date, 9 acquisitions have been finalized in prime locations, including 4 in Luxembourg (Luxembourg-Kirchberg, Luxembourg City, Schuttrange and Lorentzweiler) and 5 in Germany (the Bitterfeld/Plauen portfolio, Magdeburg, Oberhausen and Moers), for a geographical distribution of investments of 54% in Luxembourg and 46% in Germany, reversing the trend of 2019.
  • The group is structuring itself with the recruitment of 6 employees, including 2 in strategic positions with the arrival of a Luxembourg-based Finance Director in May and the arrival of a Berlin-based Director and Member of the Executive Board in August. Two Investor Relations roles, one for Europe and one for France, were completed at the very beginning of the year, followed immediately by the appointment of an Asset Manager for the Luxembourg office. A Senior Asset Manager also joined the Berlin office mid-year.
  • The restructuring of the "Gluckauf-Center" real estate complex in Gladbeck in North Rhine-Westphalia began in March 2020 and is scheduled to open in Q1 2021. To date, 3 leases have been signed with the REWE, ROSSMANN and ACTION groups for firm leases with a minimum term of 10 years.
  • A club-deal was successfully completed for the development of a residential/commercial project in the city center of Luxembourg, as part of the restructuring of the Steel/Hollerich/Station district.

We would like to thank all our partners, shareholders and employees for their commitment and trust. See you in January 2021 for an update on MIMCO Capital's real estate indicators for the full year 2020!

Luxembourg
Address: 25C Boulevard Royal
L-2449 Luxembourg
Tel: +352 661 988 977
Email: office@mimcocapital.com
Germany
Address: Grolmanstrasse 36,
10623 Berlin
Tel: +49 30 810 5661-0
Email: office@mimcocapital.com